Zahid: UMNO Bangkit dan Memandang kehadapan

Calon Presiden UMNO pada pemilihan parti Sabtu 30 Jun 2018 ini Dato’ Seri Ahmad Zahid Hamidi berhasrat membawa wadah perjuangan orang Melayu itu kehapadan dan terus mewarisi kerjasama dengan etnik lain tanpa menafikan hak mereka dalam usaha memartabatkan kepentingan orang Melayu dan Bumiputera.

Seorang pemimpin yang pernah menerajui organ parti pelbagai peringkat sepanjang tiga puluh tahun ini, beliau mempunyai rekod menyuarai dan membawa agenda akar umbi dan warga marhaen dalam UMNO.

Ini termasuk sebagai Ketua Pemuda Pergerakan Pemuda UMNO, mencabar Presiden UMNO ketika itu mengenai persepsi amalan ‘kronyism’ dan ‘pilih-kasih’ Kerajaan dalam ucapan dasar mesyuarat agung tahunan sayap parti pda tahun 1997.

Zahid juga pernah ditahan oleh Polis dibawah Akta Keselamatan Dalam Negeri (ISA) dalam episod pemecatan Timbalan Perdana Menteri dan Presiden UMNO pada 2 dan 3 September 1998.

Pendekatan Zahid apabila menjadi Menteri juga membawa perbezaan dan mengukir sejarah.

Doa untuk pejuang bangsa: (dari kiri) Birg Gen Rahim, Jen Tan Sri Zulkifli, Dato’ Seri Zahid, Dato’ Dr Latif dan wakil Kelab RAMD

Beliau merupakan Menteri Pertahanan pertama yang memberi penghormatan kepada 1 Rejimen Askar Melayu dengan secara rasmi mewakili Kerajaan Malaysia bagi pada upacara memperingati ulang tahun ke 70 pertempuran dimana 146 perwira terdiri dari pegawai dan anggota Askar Melayu gugur mempertahankan kubu di Bukit Chandu, Singapura pada 14 Februari 1942.

‘Projek Jiwa Murni’ yang diperkenalkan Kementerian Pertahanan merupakan strategi Kerajaan dibawah pimpinan Zahid untuk menggunakan sumber teinikal dan kepakaran tentera dalam membawa pembângunan terutama infrastruktur dikawasan luar bandar terutama pendalaman Sabah dan Sarawak.

Penerimaan rakyat keatas kepimpinan beliau sebagai wakil rakyat juga membuktikan keyakinan dalam memperjuangkan kepentingan mereka. Dalam PRU 14 baru ini, Zahid mendapat pertambahan majoriti berbanding dengan dua pencabar utama dalam pertandingan merebut keresi Presiden UMNO.

Apa yang lebih menarik ialah kerusi Parlimen Bagan Dato’ merupakan demografi pengundi dikalangan orang Melayu paling kecil peratusan berbanding dengan dua kerusi Parlimen pesaing beliau dalam pertandingan jawatan Presiden UMNO itu.

Ini mengukuhkan bahawa penerimaan kepimpinan Zahid sebagai wakil rakyat dikalangan pengundi Bukan Melayu juga lebih menyakinkan.

Zahid secara yakin menerima kepertanggung jawaban untuk meneruskan wadah perjuangan UMNO dan memperingkatan sokongan orang Melayu, yang terbukti masih mendukung sokongan rakyat dengan kedudukan parti yang ditubuhkan sebagai suara massa orang Melayu untuk menentang empayar kuasa besar dunia, iaitu Britain lenin 72 tahun lampau.

Latar belakang Zahid juga jalan sebagai seorang marhaen dan mendapat pengajian dari IPTA tempatan, berbanding dengan kedua-dua pencabar beliau yang berasal dari golongan menenegah atas dan menerima ijazah dari universiti di United Kingdom.

Beliau juga mempunyai rekod sebagai pemimpin UMNO yang menunjukkan minat dan keterbukaan menerima sebarang aspirasi akar umbi. Ini mudah dibuktikan dalam perjalanan sebagai pemimpin UMNO sepanjang 30 tahun ini menyantuni pelbagai organ parti disemua peringkat, seluruh negara.

Ini merupakan modal berharga bagi Zahid membukti bahawa beliau merupakan personaliti yang paling layak menerajui parti keramat orang Melayu untuk bergerak kehadapan membawa perjuangan nasionalism dan mempertahankan kedudukan Islam dan orang Melayu, sebagai yang termaktub dalam Perlembagaan Persekutuan dan parti UMNO.

 

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Published in: on June 26, 2018 at 23:30  Leave a Comment  

Kilang Kirim & Co.

Prime Minister Tun Dr Mahathir Mohamad made another U-Turn when he announced that the High Speed Railway (HSR) is postponed instead of cancelled.

The Star story:

HSR project postponed, not scrapped, Dr M tells Japanese media (updated)

NATION

Tuesday, 12 Jun 2018
11:23 AM MYT

image: https://www.thestar.com.my/~/media/online/2018/06/12/03/24/328476608_0-8.ashx/?w=620&h=413&crop=1&hash=F60FC1B2CBA519EF56811221C9372FDFF56CA41F

image: https://content.aimatch.com/default.gif

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=Demo_Gender_Female_enr,Int_Sports,Int_Travel_Business,Int_Lifestyle,Int_Sports_Football,Int_Travel,all,Int_Parenting,Int_Property_Affluent,Int_Automotive,Int_Business_Finance,Int_Entertainment,Demo_AffluentAudience,Int_Property,Demo_Age_45to54_enr,Demo_Gender_Male_enr

PETALING JAYA: Prime Minister Tun Dr Mahathir Mohamad seemed to have walked back from an earlier decision when he told a Japanese publication that the high-speed rail project had been merely postponed, not cancelled.

Speaking to Nikkei Asian Review on the sidelines of the Future of Asia conference in Tokyo, he said Malaysia cannot afford the project at this moment but signalled that the door is still open.

“We cannot say we will never have high-speed rail (HSR) in Malaysia. What we can do is we can postpone the project because it is far too costly at this moment,” he said.

Dr Mahathir said Malaysia would need an HSR but it is something to only consider in the future.

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=Demo_Gender_Female_enr,Int_Sports_Football,Int_Property,Demo_AffluentAudience,Int_Sports,Int_Parenting,Int_Travel,Int_Lifestyle,Int_Business_Finance,Int_Travel_Business,Demo_Age_45to54_enr,Int_Entertainment,Int_Automotive,Int_Property_Affluent,all,Demo_Gender_Male_enr

After being sworn in as prime minister, he had announced on May 28 that Malaysia will be dropping the HSR project with Singapore, citing it as an “unnecessary project”.

However, in his interview with Nikkei Asian Review, Dr Mahathir commented that the Singapore HSR project is merely postponed.

“We actually postponed the implementation of that project.

“High-speed trains are most effective where the distance is very long. But where the distance is short, it doesn’t contribute much.

“So we need to rethink high-speed rail,” he said.

Dr Mahathir also suggested the possibility of building an HSR “right through the Peninsula”.

“We cannot say we will never have high-speed rail in Malaysia – there will be a need for high-speed rail in the future,” he said.

Last month, Finance Minister Lim Guan Eng also said the Government’s decision to scrap the HSR project was not only due to the high price tag of building it, but also steep cost burden to maintain the 350km link in the longer term.

This decision was also part of cost-cutting moves to slash the federal government debt of over RM1 trillion, Lim said.

He told the South China Morning Post that the new administration estimated the initial cost of the high-speed rail project was likely to be more than RM100bil.

Singapore’s Ministry of Transport said it had yet to receive an official notification that the project had been cancelled.

Read more at https://www.thestar.com.my/news/nation/2018/06/12/hsr-project-postponed-not-scrapped-dr-m-tells-japanese-media/#uH0sXUZeYRGGku7l.99

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Raja Petra Kamaruddin dubbed this “Cancelling the cancellation”.

It is announcements such as this would erode the market confidence, if not now affecting the perception of the global commercial and capital, financial and debt markets towards Malaysia.

Earlier, Prime Minister Dr. Mahathir announced that the national debt is RM1 Trillion which saw the trigger of a series of reaction.

Bursa Malaysia recorded foreign funds dumped RM5.8billion worth of holdings and the KLCI dipped to 1770 points.

Published in: on June 12, 2018 at 16:30  Comments (1)  

Blue over Red

AirAsia founder and CEO Tan Srì Tony Fernandes strongly sends a message to vote Barisan Nasional (BN) at this XIV GE.

He urged Malaysians to continue vote and support the BN Government.

“The Government and Prime Minister Najib put the country first”.

It is very comforting to see Charted Accountant turned media executive and now corporate giant Fernandes committing himself and assets of the firm towards the campaign of BN.

On the other hand, Chairman of AirAsia X Tan Srì Rafidah Aziz is hard on the campaign trail for the Opposition coalition.

The former BN Wanita Chief was sacked from UMNO two days ago.

The Edge Market story:

Rafidah amused by Umno’s sacking over support for Pakatan

Tan Choe Choe

/

theedgemarkets.com

May 05, 2018 20:48 pm +08

KUALA LUMPUR (May 5): Former Minister of International Trade and Industry Tan Sri Rafidah Aziz is amused over news that she has been sacked by Umno’s disciplinary board for speaking at opposition Pakatan Harapan’s events.

Rafidah, who made her debut appearance on the opposition’s stage in Melaka on Friday night amid thunderous applause from the crowd, asked how can Umno sack a person who is no longer a member of its party since about a decade ago.

The former Wanita Umno chief told theedgemarkets.com that she does not want to be a member of an organisation that does not even abide by its own constitution and is “existing without legal foundation and standing”.

Here is her reply in full, sent via WhatsApp, when asked to comment on the issue:

“I read with sheer amusement on the ‘Public Announcement’ that I have been “sacked” by UMNO. What ‘sacking’? I have ceased being a member of UMNO since almost a decade ago. I have never attended any cawangan meeting for years! No one can ‘sack’ a non-member!

“UMNO is sadly NO LONGER now the ‘United Malays National Organisation’ I was inducted into in the 1960’s. The very spirit, culture and embodiment of TODAY’S UMNO has strayed so far off-TANGENT from the original UMNO before this present cohort of so-called leaders. It seems now to be all about PERSONAL LOYALTY, a materialistic culture, often driven by GREED for power and personal enrichment, and NOT about serving the people and nation.

“Humility, Good Manners and Mutual Respect has been replaced by ARROGANCE. UMNO MUST reform and go back to basics if it were to remain relevant in the ever changing environment. UMNO is NOTHING without its original spirit.

“One does NOT have to be a card-carrying member of ANY political party to serve. After almost half a century of being a member, I can NO LONGER identify with the UMNO of today. The VALUE SYSTEM has been eroded. Principles no longer seem to matter. UMNO does NOT even ABIDE by its OWN Constitution and is existing without legal foundation and standing.

“Do I still want to be a member of such an organization, which also seem to condone Kleptocracy? NO WAY.”

Rafidah then went on to share a video of Umno president Datuk Seri Najib Razak that was taken in 2015, when he announced that the party’s supreme council has decided to postpone the party’s election that was due to be held in October 2016, by 18 months. In the video, Najib also said the postponement could not be more than 18 months from the original due date, according to the party’s constitution.

It was reported earlier today that Umno secretary-general Datuk Seri Tengku Adnan Tengku Mansor confirmed that he had signed letters to expel Rafidah, together with former Finance MinisterTun Daim Zainuddin, for their outright support of Pakatan Rakyat, while another former minister Tan Sri Rais Yatim has been placed under investigation for disciplinary issues .

“I was at the Umno headquarters yesterday (May 4) and signed the letters to withdraw their membership,” he was quoted as saying.

“According to the party’s constitution, they as Umno veterans should know their actions were wrong when they give ceramah on the opposition’s stage,” Tengku Adnan reportedly told reporters in Putrajaya.

Daim, meanwhile, has expressed relief that he was sacked from Umno, saying he had no business being in an “illegal society”.

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Another chartered accountant turned corporate leader turned Minister of Economic Planning and now Chairman of the largest unit trust investment firm Tan Srì Abdul Wahid Omar also came out in his effort to support Federal Government’s commitment It initiative for the economy.

Assalamualaikum wbt dan salam sejahtera rakan-rakan sekalian.

1. Alhamdulillah dua hari lagi pada hari Rabu 9 Mei ini, kita rakyat Malaysia bakal menjalankan tanggungjawab untuk mengundi dalam Pilihanraya Umum ke14. Ramai rakan-rakan yang tidak sabar untuk keluar mengundi setelah sekian lama berkempen dan ‘dikempen’. Bagi kita yang bukan ahli politik pun terasa penat. Bayangkan apa perasaan ahli-ahli politik yang terlibat secara langsung dalam PRU14 ini.

2. Kita menghargai mereka yang secara sukarela mengenengahkan diri untuk bertanding dan berkhidmat kepada rakyat. Tidak kira sama ada menang atau kalah, kedua-duanya memerlukan pengorbanan tenaga, wang dan masa keluarga. Sekiranya menang, sebahagian daripada mereka berpeluang memegang jawatan dalam pentadbiran yang pendapatannya mungkin tidak setimpal dengan tanggungjawab berat yang dipikul. Sekiranya mereka kalah, lagilah berat kerana mungkin terpinggir dari kancah politik negara sekarang-kurangnya selama 5 tahun.

3. Dalam tempoh kempen, pelbagai isu telah dibangkitkan. Antara yang paling kerap dibahaskan adalah cukai barangan dan perkhidmatan atau GST. Izinkan saya menyentuh 5 perkara berkenaan GST yang telah diperkenalkan 3 tahun yang lalu pada 1 April 2015:-

i) GST 6% ini menggantikan cukai jualan 10% & cukai perkhidmatan 6%. Ia bukan cukai tambahan.

ii) Kadar 6% yang dikenakan adalah yang terendah di ASEAN dan antara yang terendah di dunia. 160 negara telah melaksanakan GST atau Value Added Tax (VAT). Sebagai contoh, kadar di Singapura 7%, Thailand 7%, Indonesia 10%, Vietnam 10%, Filipina 12%. Di Australia 10% dan di UK jauh lebih tinggi iaitu 20% .

iii) Untuk mengurangkan kesan kenaikan harga barang kepada rakyat, Kerajaan telah memperluaskan senarai barangan asas yang dikenakan kadar sifar atau terkecuali dari GST. Ini termasuk barangan makanan asas seperti beras, gula, minyak masak, ayam, daging, ikan & sebagainya, ubat-ubatan, buku-buku dan minyak petrol RON95 & Diesel.

iv) Semasa pelaksanaan GST diumumkan dalam Bajet 2014 pada 25 Oktober 2013, Kerajaan juga telah mengumumkan langkah ‘pengimbangan’ atau offset measures seperti pengurangan cukai pendapatan individu antara 1-3%, pengurangan cukai pendapatan korporat dari 25% kepada 24% dan pengurangan cukai perusahaan kecil & sederhana dari 20% kepada 19%. Pemberian BR1M isirumah berpendapatan RM3,000 kebawah sebulan juga ditingkatkan dari RM500 ke RM650 manakala isirumah berpendapatan RM3,000-4,000 sebulan mula diberikan BR1M RM450 buat pertama kali. Seterusnya dalam Bajet 2015, jumlah BR1M telah dinaikkan masing-masing kepada kepada RM950 & RM750 . Untuk individu bujang berpendapatan RM2,000 kebawah pula, BR1M dinaikkan kepada RM350. Ini semua bertujuan untuk meringankan impak kenaikan harga barang.

v) Tujuan asal pelaksanaan GST adalah untuk memperluaskan asas percukaian negara memandangkan kita hanya ada 2 juta pembayar cukai pendapatan, satu jumlah yang kecil berbanding jumlah rakyat Malaysia seramai 30 juta. GST adalah cukai penggunaan (consumption or indirect tax) dimana mereka yang berbelanja lebih adalah dari kalangan mereka yang berpendapatan lebih. Ini juga selaras dengan langkah konsolidasi fiskal yang mensasarkan bajet seimbang dalam jangkamasa pertengahan. Dengan peningkatan pendapatan Kerajaan, kita bukan sahaja dapat mengurangkan defisit fiskal kita malah dapat melaksanakan banyak projek pembangunan yang tertangguh sebelum ini seperti pembinaan lebuhraya, jalanraya, jambatan, sekolah, hospital, klinik desa, dll. Ini termasuklah pembinaan lebuhraya Pan Borneo yang sedang rancak pembinaannya dan dijangka siap pada tahun 2022.

4. Terdapat cadangan untuk menghapuskan GST dan berbalik kepada sistem percukaian lama iaitu SST. Bagi saya ini suatu langkah yang ke belakang atau ‘regressive’ dan boleh membahayakan ekonomi. Ini kerana kutipan GST pada tahun 2017 adalah sebanyak RM42 bilion dan dijangka meningkat kepada RM44 billion tahun ini berbanding kutipan SST RM17 billion pada tahun 2014. Sekiranya GST dimansuhkan, terdapat kekurangan pendapatan sebanyak RM27 bilion (2% daripada KDNK).

5. Sekiranya Ini berlaku, Kerajaan ada 3 pilihan. Pertama – Menaikkan cukai pendapatan atau memperkenalkan cukai baru seperti cukai keuntungan modal (Capital Gains Tax). Kedua – Mengurangkan perbelanjaan termasuk perbelanjaan pembangunan. Ini bermakna membatalkan atau menangguhkan projek-projek pembangunan yang telah diluluskan sebelum ini; atau Ketiga – Meningkatkan defisit fiskal kepada 5%. Kesemua opsyen tersebut amat berbahaya kerana boleh menjejaskan pasaran modal dan mengakibatkan penarafan kredit hutang antarabangsa negara kita diturunkan daripada paras A3/A- kepada BBB. Ini sudah tentu akan meningkatkan kos pinjaman dan memudaratkan ekonomi negara.

6. Saya berharap sistem GST akan dikekalkan. Perhatian boleh diberikan kepada memperbaiki lagi pelaksanaan program dan projek-projek yang dapat memberikan lebih peluang perniagaan dan pekerjaan kepada rakyat dan mempertingkatkan kesejahteraan rakyat. Ini selaras dengan matlamat model baru ekonomi yang mensasarkan Malaysia menjadi sebuah negara maju yang inklusif dan mampan.

7. Menjelang 9 Mei 2018, saya menyeru rakan-rakan mengamalkan 3 perkara berikut:-

i) Keluar mengundi seawal mungkin kerana ini adalah hak kita sebagai warganegara Malaysia.

ii) Jangan membenarkan pendapat politik memecah-belahkan atau mengasingkan keluarga. Silaturrahim perlu dikekalkan.

iii) Menerima keputusan dengan hati terbuka, merapatkan saf dan bersatu membangunkan negara.

8. Marilah kita bersama-sama memainkan peranan masing-masing, bersikap membina dan menghayati/ mengamalkan prinsip Rukun Negara iaitu Kepercayaan kepada Tuhan, Kesetiaan kepada Raja dan Negara, Keluhuran Perlembagaan, Kedaulatan Undangan-undang dan Kesopanan dan Kesusilaan.

Selamat mengundi & Salam hormat.

Abdul Wahid Omar

7 Mei 2018.

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It is a brief but substantial explanation about the Goods and Services Tax (GST), which has been blamed as one of the culprit for the rising cost of living.

Wahid’s message also reminded that the unity amongst Malaysians in all units should not be at the expense of politics and the practice of democracy.

These two corporate barons based their projections on the best returns on their investments.

Like wise, they urge to vote BN under the leadership of Prime Minister Dato’ Sri Mohd. Najib Tun Razak for the best outcome in context of going concern, policies, it’s implementation and follow through, track record and strategic results.

Published in: on May 7, 2018 at 15:30  Comments (1)  

‘Chase the Lion’

MB Johor Dato’ Seri Khaled Nordin

Menteri Besar Johor Dato’ Seri Khaled Nordin had strategic economic agenda for the state to be an economic powerhouse and to ride on the growth and spill over effect of the Singapore economy and global trading and financial standing.

The Edge Market story:

GE14: Johor BN launches manifesto, aims to “Chase the Lion”

A+A

JOHOR BAHRU (April 14): Johor Barisan Nasional (BN) launched its manifesto, based on five thrusts including ensuring sustainable economic development, providing comprehensive infrastructure and talent development.

The ruling coalition will not let Johor become the ‘backwater’ to Singapore, said Johor BN chairman and menteri besar Datuk Seri Mohd Khaled Nordin at the launching event held at the Persada International Convention Centre in Johor Bahru today.

“Johor BN will not let Johor be the backwater to anyone, especially Singapore. We will not just sit here and watch Singapore develop itself, while not doing anything on our side. The southern tiger will chase the lion,” said Khaled, drawing loud applause from the attendees.

As the incumbent state government, Johor BN wants to position the state as a new economic power in the region, and become an economic and development competitor to any state or region, especially its southern neighbour.

The coalition offers a total of 230 pledges for the people in Johor over the next five years. Among the most notable pledges include developing each district based on its economic strengths and needs.

For example, Muar’s furniture manufacturing industry will be developed further with the development of Muar Furniture Park. The district will also be turned into an education hub for the country, mostly through the Pagoh University City which is home to about 7,000 students.

Segamat will be developed into the “Agriculture Hub of National Importance” or “The Holland of Malaysia”. The state government has planned to develop nucleus farms – named Agro Mix Farms – on a 46 acre site, which will be expanded to 100 acres over the next five years.

The state’s BN also pledged to increase the growth rate of the gross domestic product (GDP) to an average of 6% over the next five years , said Khaled. BN Johor is also committed to ensure the success of mega projects in the state, he added.

The mega projects that the coalition is promoting include the Refinery and Petrochemical Integrated Development (RAPID), the development of Pengerang Industrial Park with a RM1.1 billion investment, Ibrahim International Business District and Johor Bio Desaru Food Valley.

Other mega projects include :

1.       Developing Jemaluang Dairy Valley to create job opportunities in dairy processing industry

2.       Developing Nusajaya Tech Park with the aim of creating 20,000 job opportunities

3.       Johor Halal Park

4.       Sedenak Iskandar Data Centre Hub

5.       Boosting Johor’s position as the National Logistics Hub

Continuing on the coalition’s target to “Chase the Lion”, a reference to Singapore, which is known as the Lion City, Khaled said that it will develop the state’s tourism attractions and infrastructure, in order to compete with Singapore in attracting tourists from across the region.

“If Singapore has Gardens by the Bay, we will develop Desaru Coast, a multibillion tourism development which will see many world-class hotels and resorts. Desaru Coast will also have the largest wave pool in Southeast Asia,” said Khaled.

Desaru Coast, which is currently being developed at a cost of RM4.5 billion, will be operational this coming June, the manifesto read. In addition to that and Legoland and Hello Kitty Town, other tourism attractions that will be developed in Johor include :

1.       Sci-Fi Universe, a science fiction-based theme park with an investment of RM400 million

2.       Johor Eco Entertainment Park to be developed in Bandar Akademi YPJ Kota Tinggi with an investment of RM2.7 billion

3.       Pengerang Waterfront worth RM100 million

On the social side, Johor BN also pledges to reduce the burden of the high cost of living among the bottom 40 (B40) and middle 40 (M40) through several programmes, including by expanding “imCoop” across Johor by adding 50 more fair price shops by 2020.

The coalition also pledges to continue the Johor Affordable Housing Scheme, or Rumah Mampu Milik Johor (RMMJ) by building another 100,000 houses  by 2023. Johor BN also wants to expand the rent-to-own scheme to those with a household income of below RM3,000.

On the pledge to build 100,000 RMMJ by 2023, which coincidentally is similar to what Pakatan Harapan offered in their manifesto for Johor, Khaled said that the opposition coalition copied the state government’s ideas.

“When they copied our ideas, this shows that we are on the right track,” said Khaled.

Through the mega projects and economic policies, the state BN targets to create about 250,000 new job opportunities, including 14,000 high skill jobs through Iskandar Shares Services and Outsourcing initiative, 5,000 jobs in the furniture industry and another 5,000 in the oil and gas industry.

This commitment to increase job opportunities in the state will be followed by efforts to reduce dependence on foreign labour, said Khaled. For starters, the state government is in the midst of developing a Labour Rationalisation Plan, he added.

On infrastructural development, some RM600 million will be allocated for the maintenance of rural roads. The North – South Expressway between Yong Peng and Johor Bahru will also be upgraded to six lanes, from the current four lanes.

RM350 million worth of investment will be channelled towards developing the state’s sports infrastructure, mostly for the construction of the Johor Bahru Sport City and Arena Larkin. Mini stadiums will also be built in each districts, said Khaled.

Ending his presentation, Khaled said that Johor BN is not competing against Pakatan Harapan when crafting the manifesto. Instead, the coalition has a bigger aim, which is to make Johor as competitive as Singapore in the international arena.

“We must work hard to make Johor as the best state in Malaysia, so that within five to 10 years, the story of our success will be echoed, not only throughout the nation, but also across the Tebrau Strait. Let everyone knows that this Southern Tiger can roar as loud as the Red Lion,” he said.

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The Edge Market story based on Bernama report:

Johor set to outperform Klang Valley in economic contributions

ISKANDAR PUTERI (March 6): Johor’s rapid growth, which has been projected to continue in the next few years, may result in the state outperforming the Klang Valley in terms of contributions to the nation’s economy.

Johor Menteri Besar, Datuk Seri Mohamed Khaled Nordin, said he was confident the state’s economic growth would continue to accelerate within the next 10 years due to factors such as the over-development in the Klang Valley and its lack of space for future development.

He said his confidence was also based on Johor receiving the highest amount of investment in the manufacturing sector for four consecutive years since 2013 and being among the highest contributors to the nation’s gross domestic product (GDP).

“If we want to compare among Johor, Selangor and Penang, Penang is a small state, whereas Selangor is benefiting from the spillover from Kuala Lumpur (KL).

“When KL spends around KL, Selangor benefits. We do not have that in Johor, but look at how the state has been developing now,” he told Bernama in his office in Kota Iskandar recently.

Johor’s economic growth was backed by its strength in various sectors, he said, adding that the state was the nation’s third biggest contributor in major economic sectors, except for the mining sector.

Mohamed Khaled, who was also the Joint Chairman for the Iskandar Region Development Authority, said that from 2011 to 2016, Johor’s economic growth had surpassed the nation’s economic growth rate, with an average of 5.9% compared with Malaysia’s 5.1%.

In 2016, the state’s GDP growth was recorded at 5.7%, the third highest following Labuan (7.2%) and KL (5.9%).

In order to boost the state’s economic growth, the state authority had launched the Johor Strategic Development Plan in 2016, he said.

He said among other things, it included plans to capitalise on each district’s economic potential according to their respective niche and advantages.

For example, Muar would be developed as an education and furniture hub, while Mersing would be developed under the tourism sector, he said.

Mohamed Khaled, who is also the Permas Assemblyman, said the plan was crafted in such a way as it would be impossible for each district to be developing the same project.

“We do not want what is being done in Iskandar or Pengerang to be done in other districts, that is impossible.

“This is why we choose to develop each district according to their respective niche,” he said.

He said the rapid development in Johor Bahru, Pengerang and the Iskandar Malaysia Economic Region should not spark any jealousy among the residents in other districts, as the gains from the developments in those districts would be used to fund the developments in other districts in the state.

“The state government’s approach will ensure that the development in Johor is inclusive, balanced and ensures the people’s prosperity.

“If we do not have any development in any districts, especially in Iskandar and Pengerang, we will not have any resources or capability to develop other districts,” he said.

Mohamed Khaled said that by choosing to develop Johor in an inclusive and balanced manner, the state government would have to ensure that there would not be a large economic gap between the districts.

***************

This is a good strategy considering the projected Singapore GDP for 2018 is USD350 billion and the GDP per capita in the terms of purchase power parity (PPP) is third highest in the world.

In a Straits Times report, Johoreans prefer the investment from Singapore compared to other investor nations.

Johoreans ‘prefer Singapore investments’

Chinese developer Country Garden Pacific View responded to criticism that its RM444 billion (S$150 billion) investment in property project Forest City did not benefit locals by announcing last year that more than 40 per cent of its capital expenditurPUBLISHED

Poll shows state residents do not see China’s economic presence as beneficial to them

JOHOR BARU • Residents in Malaysia’s southern state of Johor welcome foreign investments generally, but favour investments from neighbouring Singapore over those from China, says a recent survey.

A poll conducted last month by the Merdeka Centre for Opinion Research showed that 69 per cent of 1,007 survey respondents in Johor were in favour of investments from Singapore, but only 56 per cent of them welcomed investments from China, according to The Malaysian Insight (TMI) news site yesterday.

Johoreans, according to the news site, do not see themselves benefiting from China’s growing economic presence in the state, largely in the form of multibillion-ringgit property developments.

“We don’t feel the positive effects,” Mr Zayani Ismail told TMI.

“The only thing they have done is drive up the local property prices and make it harder for people like me to buy a home in Johor Baru,” said the 32-year-old executive.

Many locals view Chinese investments with a mixture of disinterest and suspicion, mainly because the bulk of these investments were in high-end real estate, ISEAS – Yusof Ishak Institute senior fellow Francis E. Hutchinson told TMI.

“The perception is that this drives up housing prices and many of those buying the newly completed units will not be local,” he said.

The survey also showed that more Johoreans – 29 per cent – were dissatisfied with Chinese investments than with Singaporean investments, which saw a dissatisfaction rate of 18 per cent.

Average Johoreans believe that Chinese projects do not provide enough local job opportunities, Dr Hutchinson said, in contrast to the involvement of Singapore-based multinationals in the 1980s development of Pasir Gudang that had directly benefited Johoreans.

“Beyond the jobs created, an important new township was developed in a sparsely populated part of the state,” he explained.

  • 69%
  • Of respondents were in favour of investments from Singapore.
  • 56%
  • Welcomed investments from China.

According to the TMI report, Chinese developer Country Garden Pacific View responded to criticism that its RM444 billion (S$150 billion) investment in property project Forest City did not benefit locals by announcing last year more than 40 per cent of its capital expenditure went to pay local firms.

Despite its revelation that RM4.7 billion was spent on local consultancy services, law and architecture firms and construction materials, the average Johorean’s scepticism remains, the report said.

The historical relationship between Malaysia and Singapore – they were part of the Federation of Malaysia until 1965 – also plays a part in Johoreans favouring Singapore, said Dr Hutchinson.

Singapore investments are also viewed as more relevant to Johor because of their close geographical location, with the two linked across the Johor Strait by the 1km-long Causeway at Woodlands and the 2km-long Second Link at Tuas.

Nine in 10 Johoreans polled said there should be a high-speed railroad between Singapore and Kuala Lumpur; 81 per cent said there should be a third link between the two countries and 88 per cent said Johor and Singapore should be linked by an MRT service.

****************

Khaled’s economic strategy to turn Johor into an economic powerhouse would have a desired effect on the creation of a quarter of million new jobs.

The Star story:

MB: Johor govt plans to turn state into economic powerhouse

  • NATION
  • Sunday, 21 Jan 2018

  • by mohd farhaan shah

    PASIR GUDANG: The Johor government has a long-term plan for the state and an aspiration to make it the new economic powerhouse in Malaysia, said Datuk Seri Mohamed Khaled Nordin.

    The Mentri Besar said mega projects such as the Rapid Transit System, Gemas-Johor Baru double tracking system, Kuala Lumpur-Singapore High Speed Rail and the Refinery and Petrochemical Integrated Development project in Pengerang would set Johor above others once completed.

    “More importantly, these mega projects – together with other developments taking place here – will generate 250,000 employment opportunities in the state,” he said in his speech before officiating SMK Dato’ Penggawa Timur’s 44th Parent-Teacher Association meeting here on Sunday (Jan 21).

    Mohamed Khaled also blasted certain parties for questioning the state government’s efforts in attracting foreign investments.

    “Without these investments, the state government cannot develop Johor’s economy. We can see how vibrant are the developments here,” he said.

    Mohamed Khaled added that unlike Barisan Nasional, the Opposition does not have any concrete plans for Johor.

    He said that the state government has been proactive in addressing the high cost of living, especially in urban areas, through building affordable homes and other initiatives.

    “We have built 27% of affordable homes in Johor so far with a price range of between RM40,000 and RM150,000, which is the cheapest in Malaysia,” he said.

    Mohamed Khaled said it was the responsibility of the Barisan-led state government to ensure that the people is able to benefit from development.

    “It is our aspiration to make Johor a developed state and its rakyat enjoy prosperous lives,” he added.

    Read more at https://www.thestar.com.my/news/nation/2018/01/21/mb-state-govt-plans-to-turn-johor-into-economic-powerhouse/#3UW2vOVCdaJ4ZIiV.99

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The Johor GLC firm of RM5.1 billion turnover Johor Corporation is set to embark on the Industrial Revolution 4.0, which is a manifest the shift on the state turning into an economic powerhouse.

Utusan online story:

JCorp sedia teroka Industri 4.0

MOHAMED KHALED NORDIN
MOHAMED KHALED NORDIN

JOHOR BAHRU 27 April – Kumpulan Johor Corporation Bhd. (JCorp) sedia meneroka bidang perniagaan global baharu terdiri daripada sektor Revolusi Perindustrian Ke-4 (Industri 4.0) pada masa depan.

Menteri Besar, Datuk Seri Mohamed Khaled Nordin berkata, perancangan JCorp untuk me nyertai era Industri 4.0 merupakan satu usaha berterusan yang digerakkan pihaknya.

Mohamed Khaled yang juga Pengerusi JCorp bagaima napun membe ritahu, syarikat milik kerajaan negeri itu tidak akan tergesa-gesa sebalik nya akan mengikut perancangan ditetapkan.

“Penerokaan sektor Industri 4.0 ini akan dibuat mengikut keupayaan dan perancangan ditetapkan syarikat.

“JCorp merupakan instrumen terbaik kerajaan ne geri dalam menerokai bidang tersebut, sekali gus dapat memberi manfaat kepada rakyat seluruh negara,” katanya.

Beliau berkata demikian dalam sidang akhbar selepas me nyempurnakan Majlis Pelancaran Laporan Tahunan Johor Corporation Bhd. di Hotel Puteri Pacific, di sini hari ini.

Yang turut hadir, Pengerusi Jawatankuasa Perumahan dan Kerajaan Tempatan negeri, Datuk Md. Jais Sarday serta Pre siden dan Ketua Eksekutif JCorp, Datuk Kamaruzzaman Abu Kassim.

Sementara itu, Kamaruzzaman mengumumkan JCorp telah merekodkan perolehan berjumlah RM5.579 bilion bagi kewa ngan 2017, peningkatan 4.1 peratus berbanding perolehan tahun sebelumnya.

Katanya, kejayaan itu merupakan satu pencapaian yang memberangsangkan dalam keadaan ekonomi glo bal yang tidak menentu sepanjang tahun lalu.

“Keuntungan selepas cukai bagi peringkat kumpulan pada 2017 turut mencatatkan peningkatan sebanyak 31 peratus iaitu sebanyak RM542 juta berbanding RM415 juta pada 2016.

“Daripada segi pemilikan aset, jumlah aset Kumpulan JCorp bagi 2017 adalah sebanyak RM21.795 bilion,” katanya.

Artikel Penuh: http://www.utusan.com.my/bisnes/korporat/jcorp-sedia-teroka-industri-4-0-1.659805#ixzz5Ek8PU6pD
© Utusan Melayu (M) Bhd

******************

The RM120billion GDP Johor economy is poised to grow bigger, upon such prized investment such as the USD27 billion Petronas RAPID with investors such as Aramco of Saudi Arabia.

“It is a confidence shown for the Malaysian economy”, Minister in-charge Dato’ Seri Abdul Rahman Dahlan said at the signing between Petronas and Aramco.

Aramco committed USD7 billion in the project termed as a ‘Green Field project’. “Saudi Aramco will support any financing for the project”.

The past five years saw MB Johor Khaled policies and leadership brought transformation and increment in the Johor economy.

The trickle down has been felt by the rakyat.

This is attested by a professional serving one of the Johor GLCs, who saw MB Khaled move to follow through policies and being implemented through GLCs and SPVs.

“MB Johor Khaled has delivered what he promised since five years ago. His ratings for delivery and implementation have actually gone up”.

‘Chase the Lion’ is one of the MB Khaled’s strategy to put Johor at even better spot, in the challenges of the overall transformation of Malaysia.

*Updated 7 May 2018 1500hrs

Published in: on May 6, 2018 at 23:00  Comments (1)  

Political promise of transformation

Last night Barisan Nasional (BN) Chairman, Prime Minister Dato’ Sri Mohd. Najib Tun Razak launched and unveiled the BN Manifesto, spectacular in form and substance that awed majority of Malaysians.

In all, the 364 initiatives could be summed up as the fourteen core offerings.

It is more visible when the 220 page book is summarised.

The Star story:

BN manifesto: A vision for the nation


KUALA LUMPUR: Barisan Nasional’s general election manifesto unveiled by Datuk Seri Najib Tun Razak Saturday night contains 341 initiatives divided into 14 thrusts.

Following are the 14 thrusts are some of the key initiatives:

1. Mothers and women first

*Facilitating the process for single women in securing loans by permitting the combination of incomes with siblings or parents who fulfil eligibility requirements.

* Encouraging women to generate secondary incomes by easing microcredit loan requirements for women entrepreneurs who conduct businesses part-time.

* Encouraging the private sector to allow pregnant mothers to leave work an hour early.

* Extending the duration of tax incentives to 24 months for women who return to the job market.

* Adapting the flexible work hour scheme for mothers with children aged 2 and below.

* Providing incentives to companies that provide childcare centres and facilities for breastfeeding mothers.

* Allocating 7 days of special leave per year for women who are caregivers to their children or immediate relatives who are ill.

* Establishing one-stop centres that include childcare centres and entrepreneur centres for Felda settlers, in all Felda settlements, that is administered by the Confederation of Women Felda Settlers Malaysia.

2. A home for everyone

* Granting tax exemptions on housing rental income.

* Establishing a special bank to facilitate loans for affordable and low-cost housing priced RM300,000 and below.

* Providing tax incentives or development funds to encourage banks and housing developers to offer rent-to-own schemes.

* Introducing a single entity to synchronise all affordable housing initiatives, including the monitoring of construction work.

* Providing a Public Housing Assistance Scheme to assist renters who may be categorised as poor or Persons with Disabilities (PWDs).

* Upgrading long-houses in Sarawak, water-houses in Sabah, Orang Asli houses and estate workers housing units in the Peninsula.

* Ending the policy of Bumiputera lot discounts for property valued at RM1mil and above.

3. Three million jobs

* Speeding up the development of the Malaysian Vision Valley, a 150,000 hectare area that is projected to create 1.3 million job opportunities.

4. More smiles in Sabah and Sarawak

* Improving the quality of telecommunications coverage across Sabah and Sarawak with an allocation of RM2 billion.

* The rights of Sabah and Sarawak under the Malaysia Agreement 1963 will be realised by consensus.

5. Futuristic Transportation

* Introducing the TN50 Public Transport Pass (costing between RM50 – RM150) that gives unlimited monthly access to public transport for students, working youths, senior citizens and the disabled.

* Building an electrified railway line from Subang Jaya to the Subang Skypark Terminal as part of the integration of railway transportation.

* Adding more streetlights in Felda settlement areas.

* Upgrading 419 kilometres of sewerage pipelines in Felda areas.

6. Digital empowerment

* Reducing the cost of employing foreign domestic workers by introducing an Online Domestic Helper System.

7. Made in Malaysia

* Continuing efforts to develop the Small and Medium Enterprises (SME) sector to assist Chinese entrepreneurs by strengthening the role and function of the Secretariat for the Advancement of Malaysian Entrepreneurs (SAME).

* Supporting food truck businesses by creating special areas for them to do business and instituting programmes for vehicle modification.

* Enhancing the contribution of Small and Medium Enterprises (SMEs) to the national economy through digital transformation by providing grants and credit guarantee opportunities to expand access to new international markets.

8. A newer BR1M

* Providing a one-off assistance of RM1,500 for the children of BR1M recipients that enrol in higher education institutes.

9. Rakyat’s economy

* Raising the minimum wage in phases to at least RM1,500 within five years.

* Providing a special incentive of RM5,000 to every Felda settler.

* Enhancing the well-being of employees of Government-Linked Companies and Government-Linked Investment Companies who earn RM2,500 and below through expanded insurance coverage, increased healthcare benefits and increased cost of living allowance.

* Creating a special grant for replantation worth up to RM7,500 per hectare for each qualified Felda settler in the next 5 years starting 2018. This grant is to reduce up to 70% replantation debt of Felda settlers.

* Writing-off the Felda settlers’ debt from the purchase of FGV shares.

* Allocating a special fund worth up to RM300 million to write-off extraordinary or extreme debt of all qualified Felda settlers for the next 5 years starting in 2018.

* Intensifying Felda 2.0 initiative via 15 plans for 2018 and 2019 with an allocation of RM300 million to create a smart community and sustainable local economy. This initiative will be continued to all Rancangan Felda nationwide and will benefit settlers and second generations residing in Rancangan Felda.

* Minimising the involvement of middlemen in agricultural and fishery products in order to reduce the prices of basic food items and increase the incomes of farmers and

fishermen.

* Expanding the funds for the Agricultural Assistance Scheme and replanting of palm oil, rubber, cocoa and kenaf smallholders.

* Allocating a special assistance scheme worth RM222 million for Felcra, Kesedar and Ketengah settlers.

* Reducing the maximum limit on interest rates and late payment charges for credit cards.

* Revising individual and corporate income tax rates to ensure Malaysia remains competitive in the regional market.

* Allocating RM3 million for the Art Practitioners Welfare Fund (Tabung Kebajikan Penggiat Seni TKPS) every 5 years.

* Providing an individual tax incentive of RM1,000 a year for those who contribute towards the development of national cultural arts.

10. Future oriented education

* Equipping five million school-going children with digital skills for the Fourth Industrial Revolution (IR 4.0) within five years.

* Increasing the number of subjects in the Dual Language Programme (DLP) to make it more comprehensive.

* Improving English language proficiency in schools through the Dual Language Programme (DLP), High Immersion Programme (HIP) and the introduction of English medium schools in Sabah and Sarawak as pilot projects.

* Introducing special student discount cards to reduce the costs of transportation, Government services and education-related necessities.

* Incorporating more historical facts and perspectives from Sabah and Sarawak to enhance the History subject syllabus.

* Establishing an Institute of Native and Indigenous Peoples Studies at Universiti Malaysia Sarawak and Universiti Malaysia Sabah.

* Qualified citizens with overseas examination certificates that are equivalent to Sijil Pelajaran Malaysia (SPM) and Sijil Tinggi Persekolahan Malaysia (STPM) will be considered for enrolment in higher education institutions (HEI), under the condition that they obtain a credit in Bahasa Malaysia and a pass in History – this criteria also applies to issues pertaining to Unified Examination Certificate Senior Middle (UEC).

11. Live healthy

* Increasing the current individual income tax exemption rate for parents’ medical expenses from RM5,000 to RM10,000.

12. Peaceful Negaraku

* Transforming the police elite corps such as the Special Tactics and Intelligence Narcotics Group (STING), Special Task Force on Organised Crime (STAFOC) and the Special Task Force for Anti-Vice, Gambling and Gangsterism (STAGG) to increase the effectiveness of efforts in eradicating drugtrafficking, gambling, triad gangs and organised crime.

* Increasing the number of high definition closed-circuit television cameras (CCTV HD) in high-crime areas.

* Increasing the number of Voluntary Patrolling Scheme members to increase security controls and preserve the peace in areas with high crime rates.

* Boosting community involvement in crime prevention through PDRM’s initiatives by using the Volunteer Smartphone Patrol application.

* Ensuring all Police lock-ups in the country are equipped with high definition closed circuit television cameras (CCTV HD), as a way to prevent incidents of death, suicide and fighting during detention.

13. TN50

*Emboldening the role of youth in national development by generating new, fresh and creative policy ideas.

*Increasing the youth’s engagement with local governments (PBT) by establishing Youth PBT Councils that are capable of empowering

the role and voice of the youth at the local government level.

14. Universal Childcare

*Implementing a Universal Child Care policy by developing a curriculum, inclusive programmes and nutritious food guidelines, besides training professional childcare personnel.

*Adapting the flexible work hour scheme for mothers with children aged two and below.

Other Major Highlights

* Establishing a special non-Muslim unit in the Prime Minister’s Department to promote dialogue on equality and mutual understanding between races.

* The rights of Sabah and Sarawak under the Malaysia Agreement 1963 will be realised by consensus.

Read more at https://www.thestar.com.my/news/nation/2018/04/07/bn-manifesto-a-vision-for-the-nation/#hyQR4bBApRZxZ9Fs.99

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It is a continuation and an extension of the Transformation Plan Prime Minister Najib brought the nation to embark, less than a year after ascending into office as the Seventh UMNO President, Fifth BN Chairman and Sixth Prime Minister, nine years ago.

Starting with basics, three million new jobs would created.

Saturday April 7, 2018
09:12 PM GMT+8

ICYMI

Barisan Nasional president Datuk Seri Najib Razak pledged more job opportunities for Malaysians. — Picture by Mukhriz HazimBarisan Nasional president Datuk Seri Najib Razak pledged more job opportunities for Malaysians. — Picture by Mukhriz HazimKUALA LUMPUR, April 7 — In its14th general election manifesto, Barisan Nasional (BN) chairman Datuk Seri Najib Razak pledged the coalition will a create a whopping three million jobs for Malaysians.

He said among others, it can be done by expediting the creation of the Malaysian Vision Valley (MVV) which is expected to create 1.3 million jobs.

In May last year, Najib said the MVV would be developed into five clusters: the Central Business District, Nature City, Edu-Tech Valley, Tourism and Wellness, and New Liveable Township.

The project would be developed over 153,000 hectares, encompassing Seremban and Port Dickson in Negeri Sembilan.

IN THE GALLERY


  • Barisan Nasional chairman Datuk Seri Najib Razak speaks during the launch of Barisan Nasional manifesto at Axiata Arena in Bukit Jalil on April 7, 2018. — Picture by Yusof Mat Isa

  • Barisan Nasional chairman Datuk Seri Najib Razak (centre) and other party members waves Barisan Nasional flags during the launch of the party manifesto at Axiata Arena in Bukit Jalil on April 7, 2018. — Picture by Yusof Mat Isa

  • Barisan Nasional chairman Datuk Seri Najib Razak gestures after the launch of the party manifesto at Axiata Arena in Bukit Jalil on April 7, 2018. — Picture by Yusof Mat Isa

  • Barisan Nasional supporters gather inside the Axiata Arena Bukit Jalil for the launching of BN manifesto for GE14. — Picture by Mukhriz Hazim

  • Barisan Nasional supporters gather inside the Axiata Arena Bukit Jalil for the launching of BN manifesto for GE14. — Picture by Mukhriz Hazim

  • Barisan Nasional chairman Datuk Seri Najib Razak gestures after the launch of the party manifesto at Axiata Arena in Bukit Jalil on April 7, 2018. — Picture by Yusof Mat Isa

  • Barisan Nasional chairman Datuk Seri Najib Razak launches the BN manifesto at Stadium Axiata Bukit Jalil April 7, 2018. — Picture by Azinuddin Ghazali

  • Barisan Nasional chairman Datuk Seri Najib Razak launches the BN manifesto at Stadium Axiata Bukit Jalil April 7, 2018. — Picture by Azinuddin Ghazali

State news agency Bernama previously reported Najib saying that the project was planned to be developed in phases until 2045.

The manifesto launched tonight also pledged to reduce dependency on foreign workers, and to “widen” the flexible work arrangement in the public sector.

The employment of those with disabilities may also be increased in various sectors, including being appointed as local councillors and Senate members.

Companies which employ those with disabilities may also receive additional tax incentives.

Employment opportunities for the disabled may also be widened, with the creation of a “one-stop special portal” to market their services.

BN also promised to introduce financial literacy module in schools and increase the public’s financial literacy by widening the outreach of the Credit Counseling And Debt Management Agency.

As previously articulated in various engagements, especially with Malaysian youths and under the context of ‘TN 50 Discourse’, the Federal Government is embarking towards the digital economy and ensuring the workforce amongst the youth and future generation would be skilled and suited for the demand of the changing economy and economic platform.

Earlier in the week, independent opinion such as the Managing Partner of PwC Malaysia projected the Malaysian economy would be global 24th position by 2020.

The Star story:

PwC: Malaysia to be 24th largest economy in the world by 2050

BUSINESS NEWS

Thursday, 5 April 2017

KUALA LUMPUR: Malaysia, a medium-sized economy, is expected to improve its ranking to be the 24th largest in the world by 2050.

PwC Malaysia managing partner Sridharan Nair said Malaysia, already in the 27th position in terms of gross domestic product (GDP) contribution to the global economy, needed to invest in technology and education to further improve its ranking.

“Malaysia has a reputation for being pro-business and pro-investment,” he told Bernama during the 2018 Asia-Pacific Council of American Chambers of Commerce Business Summit here yesterday.

Malaysia would be on a steady growth path over the next 20 years, he said, adding that it would still do well despite some short-term ups and downs, as would be expected from a growing and emerging economy.

Malaysia has always been a trade and investment-friendly country with ease of doing business. However, according to Nair, Malaysia needs to tackle the issue of wage increase in tandem with the higher economic growth in order to benefit the people.

While Vietnam and Indonesia might rank higher in the global economy in terms of their contributions to the GDP due to the size of their population, he said, Malaysia was still doing well for a medium-sized economy.

Nair said the Emerging 7 economies (Mexico, Brazil, Turkey, India, Russia, China and Indonesia) were projected to dominate the world’s top 10 economies in 2050.

South-East Asia, he pointed out, currently captured high value-added US investments. — Bernama

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As part of the game to realise that, the most strategic bit of the BN Manisfesto is Prime Minister Najib intends to optimise the nation’s most prized resources; women and youth.

Of course, in the minds of the common voters, their biggest concern is the rising cost of living. The past month, Federal Government through agencies have been increasing allowances and the civil servants even got an across the board raise, as a direct effort to put disposable income into peoples’ pocket.

This BN Manifesto brought more goodies to the Malaysians under the B40 category, as His Majesty’s treasury chests have in a better position to alleviate their basic hardship.

The Star story:

BN manifesto: Double joy for BR1M recipients


KUALA LUMPUR: Recipients of the 1Malaysia People’s Aid (BR1M) received a sweet surprise when Barisan Nasional chairman Datuk Seri Najib Tun Razak pledged several increments for them.

In front of a 40,000-strong crowd at Axiata Arena in Bukit Jalil, Najib who is also Prime Minister announced a new BR1M category.

Recipients with household incomes of RM3,000 and below will have their BR1M payment doubled from RM400 to RM800 in June and August this year.

“This means that your BR1M payment for this year will be increased from RM1,200 to RM2,000,” said Najib at the launch of the election manifesto Saturday night.

He also announced that those with a household income of between RM3,000 and RM4,000 will have their BR1M payment increased from RM300 to RM600 in June and August.

This makes their total payout increase from RM900 to RM1,500 this year.

For those who are single with a household income of RM3,000 and below will have their BR1M payment increased by RM150 in June, making it RM600.

The new category for BR1M is for those with a household income of between RM4,000 and RM5,000. They will receive a total of RM700, which will be made in two payments of RM350 each in June and August.

Najib said the extra funds for the BR1M payments was possible due to the good financial and economic health of the country.

“We also had an increase in the Goods and Services Tax (GST) collection, which the Opposition often criticises.

“Because of our strong economy, the Barisan government would like to share the initiatives with the people,” he said.

Read more at https://www.thestar.com.my/news/nation/2018/04/07/bn-manifesto-double-joy-for-br1m-recipients/#ATTzss2kx4rOFQ21.99

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All the increase in allowances, salary and direct subsistence would translate a more active domestic market and would promote the bigger cycle for every Ringgit available in the open.

It is by far the boldness economic transformation agenda, by optimising all domestic resources having the complete systemic support of affordable homes to all, higher quality of life, higher productivity from higher skilled workforce which translate to higher household income, more comprehensive infrastructure nation wide and welfare of family units, especially working parents with young children.

BN, which a political organisation of 14 component parties ensure all pockets of Malaysians anywhere in the Federation, would be included in the transformation.

A Sabahan MP’s note on the BN Manifesto about the policy of ‘inclusiveness’:

KENYATAAN DATO’ SRI ANIFAH HAJI AMAN

Manifesto Barisan Nasional bagi PRU 2018 bersifat inklusif, realistik dan berkesinambungan dengan apa yang telah dilakukan kerajaan sebelum ini.

Manifesto Barisan Nasional juga menekankan sifat konsensus dan ‘power sharing’ yang sebenar antara negeri dan pusat: konsisten dengan agenda memperkasakan semangat MA63. Mengenali YAB Perdana Menteri, saya yakin dengan ketulusan beliau untuk memperbetulkan kesilapan dan kesalahan pada pihak kerajaan Persekutuan – khususnya pada zaman sentralisasi kuasa di bawah pimpinan Tun. Dr. Mahathir dahulu.

Dalam hal ini, Manifesto Barisan Nasional adalah jauh lebih ke hadapan dalam pemerkasaan negeri-negeri Borneo berbanding Pakatan Harapan. Bahkan, cadangan untuk menubuhkan Jawatankuasa Khas Kabinet untuk menyemak MA63 dalam Manifesto Pakatan Harapan adalah ‘redundant’, kerana sudah pun dilakukan oleh Kerajaan BN pimpinan YAB Dato’ Sri Najib Razak – dengan saya sendiri mempengerusikan jawatankuasa tersebut. Ini sekaligus menunjukkan betapa Pakatan Harapan sebenarnya tidak peka dengan sebarang perkembangan berkaitan MA63.

Justeru, demi kesinambungan dan pembangunan berterusan rakyat Sabah, saya berharap agar sokongan dan mandat diberikan semula kepada Barisan Nasional.

*Dato’ Sri Anifah Haji Aman*

7 April 2018

Kuala Lumpur

*************

Foreign Minister Anifah had been playing a very paramount role inthe Malaysian foreign policy and international diplomacy the past nine years.

The transformation is immense as Malaysia is gaining more prominence and higher role in various global dialogue and it is a very strategic extension of Malaysia’s foreign trade.

An MP of forty years representing people of Johor Bahru and has been in the central core administration in various capacity since Tun Razak’s time opined that Prime Minister Najib’s leadership is optimising competency and capability.

New Straits Times story:

The Barisan Nasional manifesto is realistic and something that can be implemented and are not based on populist measures, said Tan Sri Shahrir Abdul Samad. Pic by NSTP/HAIRUL ANUAR RAHIM

JOHOR BARU: The Barisan Nasional manifesto is realistic and something that can be implemented and are not based on populist measures, said Tan Sri Shahrir Abdul Samad.

The incumbent Johor Baru member of Parliament said the promises made in the manifesto were based on the country’s capability and competence.

“It is also based on the BN government’s experience and knowledge in administrating the government with the aim of taking the country forward,” said Shahrir.

He said in comparing BN’s manifesto with the one announced by Pakatan Harapan (PH), the promises they made for Johor seemed to have been ‘copy-pasted’ and a lot them were copied.

“They always claim that Malaysia is bankrupt, so how would they know how to bring the country forward.

“BN’s advantage is that we look at the country’s ability in detail and with knowledge. What we promise can be implemented. For Example, we can raise the amount for Bantuan Rakyat 1Malaysia (BR1M) because we know that the country’s income from the Goods and Services Tax (GST) will continue to rise every year.

“The opposition cannot see all these benefits because they are ruled by emotion. To them, everything is Najib’s (Prime Minister Najib Razak) fault,” said Shahrir.

He said the opposition also failed to come up with a manifesto that people can take seriously, as they do not pay attention to the people’s needs and requirements.

“The opposition talked about replacing the GST with the SST (Sales and Service Tax) and firing civil servants. For me this is all a drama.

“For BN, administrating or running this country is not a drama. The rakyat want a responsible, experienced, knowledgeable and adaptable government,” said Shahrir.

He was speaking to the media after closing the Science and Mathematics Olympiad organised by Gagasan Pendidikan Melayu Malaysia at SMK Bandar Baru Uda.

Shahrir, who is also Felda chairman, said the manifesto will also continue with the changes that were started in 2017 which would make Felda more inclusive.

“The focus will be on the settlers income and the question of the settlers’ debts, especially the excessive ones. For the next five years starting this year, Felda has allocated a total of RM300 million to help settlers settle their debts so that their income will not be affected,” said Shahrir.

He said in BN’s manifesto, Felda settlers would also be eligible for the replanting grants that was announced in the 2018 Budget.

“The grant, which provides a fund of RM7,500 per hectare, was initially provided for other smallholders but under the manifesto, we will include Felda settlers so that they too can enjoy the grant,” said Shahrir.

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The last bit is probably the most important bit, for BN’s struggle for the people. It had been the cornerstone policy of BN taking the  nation to move  forward, grow and achieve better stature. However, it is without compromising the Bumiputera Agenda. It is policy to alleviate and uplift them not at the expense of the others.

New Straits Times story:

KUALA LUMPUR: Barisan Nasional promises that the special position of the Bumiputeras and Muslim citizens, as stated in Article 153 of the Federal Constitution, will continue to be strengthened without marginalising the other races.

BN stressed that while the position of Islam as the Federal religion will continue to be preserved, the rights and freedom to embrace and practice other religions will still be protected by the government.

Among the highlights in the party’s manifesto is to establish an Al-Quran University to produce more huffaz (scholars who have memorised the Quran), graduates who possess skills not only in memorising the Quran, but are also equipped with expertise in other professional fields.

Barisan Nasional stresses that while the position of Islam as the Federal religion will continue to be preserved, the rights and freedom to embrace and practice other religions will still be protected by the government. Pic by RASUL AZLI SAMAD

The coalition aims to produce at least 125,000 huffaz with professional qualifications such as in Science, Mathematics and Engineering.

The existing tahfiz (religious schools) on the other hand will be complemented with the Giat MARA Skills Training Scheme.

BN will also continue to implement the Bumiputera Economic Transformation 2.0 agenda to ensure Bumiputeras play a significant role in the country’s economic development.

Launched by the prime minister in November 2011, the Bumiputera Economic Transformation Roadmap 2.0 sets out six principles of economic transformation, namely market-friendly, need-based, merit-based, transparent, pro-growth and sustainability in order to build a competitive advantage.

Another focus of the party is to ensure Malaysia becomes a leader in the global halal industry with Bumiputeras as the main industry driver.

BN also hopes to establish a committee on the harmonisation of syariah and civil courts and to empower the Syariah Court.

In an effort to improve the Islamic banking system, BN hopes to introduce a syariah-compliant Home Sale and Purchase Agreement by amending schedule H and G of Act 118, the Housing Development (Control and Licensing) Act.

Several other areas that the party hopes to improve include:

• Restructuring aid to the Orang Asli by constructing infrastructure that improves their quality of life, provides robust economic opportunities and diversifies income sources.

• Increasing the quality of haj and umrah management services as well as the wellbeing of pilgrims.

• Enhancing the role of mosques as activity centres for the Muslim community through the Mosque Transformation Programme.

• The mosque administration and management personnel will be given training and al-Hafiz will receive an increase in allowance.

• Increasing the number of surau that are allowed to hold Friday prayers.

• Establishing a special fund to upgrade the education and safety regulations of religious schools to meet national standards.

• Improving the quality and expertise of stakeholders in Islamic administration such as the imam, fardu ain and kifayah (KAFA) and takmir teachers, religious teachers, syariah officers and Syariah Court judges, an Islamic Training Academy of Malaysia (ALIM) and Syariah Judiciary Academy of Malaysia.

• Providing Arabic Language Intensive Training Courses to assist Sijil Tinggi Agama Malaysia (STAM) holders to pass the Imtihan Qabul examination, which is the main requirement for higher education qualification in Arab countries.

• Continuing to support the independence of the Palestinian state and recognising Baitulmaqdis as its official capital.

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So far, more than nine of ten promises have been delivered or work-in-progress. More goodies are included, to ensure everyone is not left behind in the Transformation Plan for Malaysia.

This is why voters decided who to lead and take care of business, so that everyone can do about the business in going concern and gets a bottomline.

Published in: on April 8, 2018 at 15:00  Leave a Comment  

The Geely Grand Plan 

Geely started 14 years after Proton. Yet they quietly grew from a typical technology firm from the Far East and started to clone existing products in the market.

They did very well and quite quickly. All, without much attention especially the media from the West.

The stealth growth enabled Geely to come up and openly bid for one of the world’s renown marque for cars and other transportation, which at the time bleeding to death. Despite the infusion of a rescue plan by Ford, Volvo needed a much boost to put its products back in the fighting range with the harsh competition, infusing technology, comfort and energy effecticient on top design, amongst other criteria to nurse back a dying marque and loyal followers gone.

Quietly, Geely transformed Volvo and brought forth two great products XC90 and S90, on top of strengthening the financial position and putting profitability to the global renown Swedish marque.

The 2016 revenue is SEK164b (Swedish Krona) with operational profits recorded at SEK6.6b Swedish Krona, for sales recorded at 534,332 units worldwide.

(SEK1.00 = USD0.125)

In short, Volvo recorded USD 20b in revenue for 2016. Just for size, Volvo global sales pre-Geely (2010) was at 334,000 units.

At the moment, Geely already employing 6,500 engineers and scientists in their research and design facility, which would be risen to 12,000.

Geely quickly learnt everything that Volvo could offer of a company which has been designing and manufacturing premium motorcars since the 1920s. This include the production protocol.

They already have an EEV segment C car on the roads in China, which has a range of 300km.

Volvo is targeting to produce 1 million EEV cars by 2025. Volvo already on the road to realise the Swedish Govt policy that zero death due to traffic by 2020.

Imagine what is in store for Proton, from this point onwards.

Geely as a 49.9% new shareholders of Proton, would provide the necessary capital, be it cash, planet and machinery, relevant technology and benefactor from the Geely experience so far in China and the Volvo experience.

Proton itself required heavy corporate and internal transformation, to move forward. This include the discipline and protocol of the entire eco-system that have been propping Proton to what it is, rightly or wrongly.

The entire vendor program would be transformed as well in this corporate exercise, where it is said that many of the vendors and suppliers are cronies of previous regime and were milking honey supplying below average parts and components.

A transformed model would be tweaked to make the philosophy and strategic intent to have an auto industry remained relevant and self sustaining, especially with infusion of a strategic partner and fresh approach and perspective of doing things.

The much needed shot in the arm by a success story like Geely, equally driven to  continuously grow, innovate and product positioning to a target quite unimaginable to the skeptics.

 

Published in: on September 3, 2017 at 12:00  Leave a Comment  

Anarchist foiled again

Pro-Tun Dr. Mahathir Mohamad cyberanarchist Syed Akbar Ali, through his blog Outsyed the Box attempted to demonise another Federal Government entity Petronas with a posting laced with lies and slanders, as part of the strategy to demonise the Malaysian Government.

Outsyed-the-Box blog (in his usual fashion, take it off the air just within hours of posting):

Petronas CEO, Board of Directors Should Just Resign And Go Away

My readers will recall that for years I have been warning against Petronas’ wasteful spending especially in this Pacific Northwest LNG project in Canada.

I have said before that the losses incurred here by Petronas could be more than the amount lost in the 1MDB scandal.
The headlines yesterday have been highlighting Petronas cancelling the US$29 BILLION project in Canada.

Here is their Media Statement in full :

 

Pacific NorthWest LNG Project Is Not Proceeding

Today Pacific NorthWest LNG’s partners announced that the project will not be moving forward.

The decision was made by the project partners following a total review of the project amid changes in market conditions.

For almost five years we have been working with local governments, First Nations, residents and businesses about our proposed project and are very grateful for the support we have received.

Thank you to the communities of Port Edward and Prince Rupert for welcoming Pacific NorthWest LNG and hosting our local outreach offices. In addition, thank you to all the communities in northwestern BC who expressed an interest in the project and took the time to work with us.

We would also like to recognize the time and efforts of all the area First Nations, including the Lax Kwa’laams First Nation, Metlakatla First Nation, Kitsumkalum First Nation, Gitxaala First Nation and Gitga’at First Nation, and all of the other nations residing in the Prince Rupert area who have kindly provided us feedback.

Our team members have been warmly welcomed by the communities. Thank you to the dozens of local businesses who we have had the opportunity to work with in the recent years.

Pacific NorthWest LNG will complete our outstanding business commitments by the end of September. Our Prince Rupert and Port Edward offices are scheduled to be closed effective August 25, 2017.

My comments :  I hope our Opposition MPs will take this up in Parliament. For certainly the BN MPs have neither the brains nor the balls to ask questions about this collosal failure.

1. First of all please tell us (without bullshitting) exactly how big is this project?
Is it US29 BILLION (RM124 BILLION) or US36 BILLION (RM154 BILLION) or how much exactly?
The ketuanan boys already cannot figure out RM50 Billion.
Do you seriously expect them to figure out RM124 BILLION??  I dont think so.
So tell us exactly how big is this project in terms of Ringgit.
2.  And how many billions has Petronas lost so far in this doomed project? RM10 BILLION? RM 20 BILLION? RM50 BILLION? Exactly how much?
Look at that picture above. That tank farm has already been built. There is also a suspension bridge over there. Did Petronas have to build that too?
Didnt Petronas already build the pipeline?
Now all that will go to waste.
So exactly how much has Petronas lost in this fiasco?

3. Petronas crows that they sold equity in this project to foreign partners.  Fine. My question is have those partners paid any real money?  Meaning did they pay in full their portion of the paid up capital, share capital or whatever?
These folks are not  village idiots. In a project this size  there are bound to be ‘subject to’ clauses.   We will meet the cash calls subject to a, b, c, d, e etc.  So can Petronas tell us exactly what transpired.
4.  Finally I think the MACC should get involved in this case straight away.  It is too big a project and it has failed.  Tens of billions if not hundreds of billions of taxpayers funds have been lost. (Petronas is wholly owned by the Malaysian taxpayer).
The MACC  should not wait for the public to make reports before they start investigating.
I have been  commenting about  Petronas’ investments in Canada for a long time because I have been hearing plenty rumours that  plenty crap has been going on.

The fine wine connoiseurs have been flying the wrong cargo.

Super Moron’s muallap guy actually runs Petronas.

This ‘global – glokal’ adventure has become a huge failure

.
Tabung Haji blowing hundreds of millions buying real estate overseas.

MARA blowing tens of millions buying hotels overseas.

Sime Darby losing RM800 Million in Qatar or somewhere.

1MDB losing BILLIONS  “investing” in units entah apa.

Now Petronas losing tens of billions in Canada.

If you want to joli-joli, please do so with your own father’s money.   Pakai duit bapak sendiri lah. Dont burn the taxpayers money.
It is better to use our taxpayer’s money and invest inside our own country.  This way even when you screw up, the money still stays inside Malaysia.

It is also better to use our taxpayers money and use it to learn how to do business inside our own country.    This way even when you screw up, the money still stays inside Malaysia.

In the Sime Darby fiasco in Qatar or somewhere, the local boys did not even understand what is the ‘time value of money’.  Rented equipment was left idle. The kids did not understand what was wrong with that.

Just like many now say there is nothing wrong with the economy.

The Petronas CEO and the BOD should just resign and go away.

Syed Akbar Ali at 5:20:00 PM

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Cowardice blogger Syed, in his usual self throw slanders indiscriminately with the intention, the contentious points high lighted adds to the on-going demonisation strategy.

Mainstream business paper The Malaysian Reserve also raised the same question. However, in the professional manner and not with the intent to make Petronas ‘another damned Government entity’.

The Malaysian Reserve:

Questions remain after Petronas aborts Canada LNG project

Petronas Canada LNG

by MARK RAO and Pic by MUHD AMIN NAHARUL

Petroliam Nasional Bhd’s (Petronas) decision to halt the US$29 billion (RM124.12 billion) liquefied natural gas (LNG) project in British Columbia, Canada, has raised questions on how and when the energy firm will recover its multibillion investments.

Petronas purchased Progress Energy Resources Corp — the operator of the North Montney Joint Venture for the Pacific NorthWest LNG facility — for C$5.2 billion (RM17.79 billion) in 2012.

The state-owned firm had invested hundreds of millions in its hunt for gas in what is the company’s single largest investment abroad.

There are questions on Petronas’ upstream assets in Canada and the impact of the LNG project’s indefinite cancellation.

Petronas had also faced strong objections from the indigenous people, environmentalists and local politicians. Despite the approval for the project, the Canadian authorities had slapped 190 conditions before work could start in September last year, spurring speculation that the energy company may dispose of its stake in the project.

The national energy company is also expected to take financial charges for the Canada LNG project.

At the end of last year, Petronas’ accumulated amortisation and impairment losses for goodwill, exploration expenditure and other intangible assets was RM34.6 billion.

Exploration expenditure accounted for RM12.1 billion of the impairment.

Petronas had cited “extremely challenging environment” for the decision to abandon the Pacific NorthWest LNG project at Port Edward, British Columbia.

“We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision,” said executive VP and CEO for upstream Datuk Mohd Anuar Taib.

Petronas said the decision was made after a careful and total review of the project.

“We, along with our North Montney Joint Venture partners, remain committed to developing our significant natural gas assets in Canada and will continue to explore all options as part of our long-term investment strategy moving forward,” Mohd Anuar said.

Pacific NorthWest LNG is majority-owned by Petronas. Japan Petroleum Exploration Co Ltd, Brunei National Petroleum Co, Indian Oil Corp and Sinopec-China Huadian are partners in Pacific NorthWest LNG and its associated natural gas supply.

According to an oil and gas (O&G) analyst, the overall industry is presently not supportive of large-scale LNG projects — including the Petronas-led Pacific NorthWest LNG facility — due to the low gas prices.

“Petronas entered the project with the intention to develop the natural gas field themselves for the Asian export market,” said the analyst, who does not want to be named.

“With substantial decline in prices, the move no longer makes sense.”

The analyst said the return on investment from the project — situated on Lelu Island within the district of Port Edward — is not justifiable at current gas prices.

The O&G prices rout that began in the middle of 2014 had driven many global energy companies to abandon their ambitious exploration plans.

Oversupply also weighed down on LNG prices for the Northeast Asia spot market, performing below US$6 per million British thermal units (BTU) early last month compared to above US$14 per million BTU from July to October in 2014.

Petronas’ Pacific NorthWest LNG project was not the only casualty from the O&G rout.

The Prince Rupert LNG facility — also located in the British Columbia region — was terminated in March this year, while approximately US$23 billion in Canadian energy assets were disposed of by international oil firms in 2017 alone.

“Petronas can sit on their assets. When prices recover and the timing is right, the company can try again,” said the analyst.

********************

In reality, the actual corporate exercise undertaken by Petronas in Canada are far from how their perception has been abused through the social media such as Syed’s blog.

These are the facts of the projects in Canada, obtained through Petronas.

PETRONAS’ business interests in Canada

 

  • PETRONAS pursues its business interest in Canada through its wholly-owned subsidiary Progress Energy Canada Ltd.

 

  • Progress Energy operates the North Montney Joint Venture (NMJV) area in which it owns a 62% equity interest. The remaining 38% interest are owned by Japan Petroleum Export Corporation, IndianOil Corporation, Sinopec-China Huadian and PetroleumBRUNEI.

 

  • Progress Energy also has a 62% equity ownership in the Pacific NorthWest LNG project (PNW LNG), with the remaining 38% stake owned by the same partners mentioned above.

 

  • There are also two related pipeline contracts namely:
    • NOVA Gas Transmission Line (NGTL) that brings gas southward from the NMJV area to the main Canadian gas grid called AECO; and
    • Prince Rupert Gas Transmission (PRGT) pipeline to bring gas westward to the PNW LNG project site from the NGTL connection to the AECO grid.

 

The North Montney Joint Venture

 

  • The NMJV area is approximately 800,000 acres of largely contiguous mineral rights in Canada. This is approximately 3,300 sq km and almost twice the size of Malacca.

 

  • Since 2012, significant investments have been made to prove up reserves and resources in the area.

 

  • Production has increased from around 200 million standard cubic feet per day (mmscfd in 2012 to 540 mmscf/day in 2017. The gas is supplied via pipeline to the domestic market in Canada.

 

  • For the first half of 2017, the venture has generated a revenue of CAD261 million (equivalent of RM861 million).

 

  • To-date, the partners have proven a combined total of 22.3 trillion cubic feet (tcf) of proven resources (from 13.4 tcf previously) in NMJV, making it PERONAS’ second largest resource holding after Malaysia.

 

  • If produced at a similar level to PETRONAS’ production in Peninsular Malaysia of about two billion cubic feet/day, the resource could accord PETRONAS a continuous business presence in Canada for almost 20 years.

 

The Pacific NorthWest LNG project

 

  • Although the North Montney is already producing natural gas for domestic consumption, the proposed PNW LNG project was first conceived in 2012 as another option to accelerate the monetization of the gas resources from the area by producing LNG for the export markets.

 

  • In 2013, TransCanada was appointed by Progress Energy to design, build, own and operate the PRGT, a 900-km long pipeline to deliver natural gas the proposed PNWLNG site. It would have included the construction and operation of a pipeline, three compressor stations and a metering station, with an initial capacity of 2.0 billion cubic feet per day.

 

  • The PNWLNG project was sanctioned by all its shareholders in June 2015, pending approval of the Canadian Environmental Assessment Agency (CEAA) and firming up additional project scope and costs.

 

  • The CEAA approval was received in September 2016 with 190 conditions. These conditions, together with further firming up of project scope and costs, resulted in a significant cost increase to the project.

 

  • At the same time, starting from June 2014, oil prices had started its unprecedentedly prolonged drop (until now and into the foreseeable future), which resulted in drastic structural shifts in the industry and changed market landscape and conditions.

 

  • The shareholders of PNW LNG, after a thorough and lengthy review of the project from all aspects, found that it did not meet its economic threshold and decided in July 2017 to not proceed with the project.

 

  • Concurrently, the contract for the design and construction of the PRGT pipeline with TransCanada was terminated.

 

What’s next for PETRONAS in Canada?

 

  • PETRONAS remains committed to Canada through Progress Energy, which owns by all accounts a world-class resource in North Montney. The subsidiary is now finalizing its strategy for Canada and North America post-PNWLG project cancellation.

 

  • PETRONAS is positioning Progress Energy to be one of the top natural gas exporters in North America, looking at various options to monetise the resources.

 

  • PETRONAS believes that the LNG industry could thrive in British Columbia with the right project at the right time.
  • The development of LNG business requires a long term view of the market, world-class natural gas resources, competitive project cost and supportive market conditions.

**********************

If Syed had done his research properly, another interesting point it is timely for Petronas make a ‘tactical retreat’, considering the North American LNG market.

It is not about withdrawing from Nortn America completely but making the right maneuvres to mitigate any setbacks, especially in projects as large as these and the striking the balance and right formula with many variables and volatility of the commodity and produce.

Natural Resources Magazine dot net story:

Oversupplied North American markets could keep Atlantic Canada’s natural gas reserves stranded

 

What goes up must come down. And vice versa. Yes, prices for the cleanest burning fossil fuel have been depressed for what seems like a long time. Growing production from tight rock basins in the United States and Canada is largely to blame, and the forecasts are predicting prices won’t rebound any time soon. That’s not good news for anyone looking to exploit Atlantic Canada’s natural gas reserves. But the oil and gas industry is a cyclical business. Prices could return to the glory days of the early 2000s sooner than the experts expect.

PRICING POINT

The short-term outlook for natural gas prices is not appetizing for companies who might be tempted to develop Atlantic Canada’s reserves, or reserves anywhere in Canada, according to recent National Energy Board analysis.

Source: Canada-Newfoundland and Labrador Offshore Petroleum Board; Canadian Association of Petroleum Producers Statistical Handbook

 

THE WEST IS THE BEST

Western Canada is Canada’s undisputed king when it comes to natural gas production, contributing well over 90 per cent of the country’s annual output. But how much production is each province or territory actually responsible for? Here is how it looked in October, 2015, the most recent figures the NEB has in the public domain.

Source: National Energy Board

CAUSE AND EFFECT

Of course, low natural gas prices will impact the amount of this fossil fuel that is produced in Canada. In 2005, an average of 17 bcf/d of natural gas was produced in Canada. A lot less will be produced in 2017 if the NEB’s natural gas price projections prove accurate.

Source: Canada-Newfoundland and Labrador Offshore Petroleum Board; Canadian Association of Petroleum Producers Statistical Handbook

 

BIG BROTHER

Oversupplied North American markets will likely keep Atlantic Canada’s natural gas reserves in the ground for some time. Growing production from the United States is the main reason why those markets are awash in gas, as output has skyrocketed stateside since 2005.

Source: U.S. Department of Energy

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It is glaringly clear why Syed by practice takes his blog posting down after three or four hours posting.

There is no one in Petronas, especially high at the executive leadership and/or Board of Directors level go to Canada to “Joli-Joli” monies of the national oil firm, which is a Fortune 500 company and one of the ‘New Seven Sisters’.

This clearly a slander, designed to defame men and women appointed by their experience and merit to become the stewards and run the wealthiest state firm in the region.

It is for the very reason that his slanders are based on lies and manipulated information, meant to defame, demonise and sow hatred against Prime Minister Dato’ Sri Mohd. Najib Tun Razak, his leadership and initiatives and administration.

Syed Akbar Ali is not new at this slander, demonisation and even making seditious statements. Somewhat ten years ago before his blog even existed, he was charged under Sedition Act.

The Sun Daily story:

Bloggers charged with sedition

PETALING JAYA (May 6, 2008): Police today slapped sedition charges on a blogger and an author, setting the stage for sensational trials later in the year.

The two men are Malaysia Today webmaster Raja Petra Raja Kamarudin and businessman and writer Syed Akbar Ali who had allegedly posted seditious remarks on the former’s website. Both pleaded not guilty.

Raja Petra was charged in a sessions court here under Section 4(1)(c) of the Sedition Act 1948 with publishing a seditious article titled “Let’s Send the Altantuya Murderers to Hell” in his blog www.malaysia-today.net on April 25. He allegedly committed the offence in his house, No. 5, Jalan BRP 5/5, Bukit Rahman Putra, Sungai Buloh.

The 58-year-old charismatic blogger caused a stir when he refused to take up judge Nurmala Salim’s bail offer of RM5,000, choosing instead to go to Sungai Buloh prison, until the trial fixed for Oct 6-10.

If found guilty, Raja Petra can be jailed a maximum of three years and/or face a fine of up to RM5,000.

Raja Petra was represented by a six lawyers – Bukit Gelugor MP Karpal Singh, K. Balaguru, PKR’s Selayang MP William Leong, J. Chandra, DAP’s Segambut MP Lim Lip Eng and Jeswinderjit Singh.

His prosecution was a media event at the court, with blogger friends and Pakatan Rakyat politicians supporting him. Among those who turned up were Parti Keadilan Rakyat (PKR) president Datin Seri Dr Wan Azizah Wan Ismail, Ipoh Timur MP Lim Kit Siang and Lembah Pantai MP Nurul Izzah Anwar.

Raja Petra had hours earlier turned up at the Duta Court Complex, where he was told to be by the police. However, after waiting for more than an hour, he received a call on his handphone from the police telling him to go to the PJ sessions court instead.

Raja Petra was vocal in condemning the sedition charge, saying that there was nothing to be worried about.

“I have been asked if this sedition charge is part of a war on bloggers. We bloggers declared war on the government four years ago. So it is not the government who has declared war on us. We want to change the government,” said Raja Petra, who added that he was expecting to be charged.

He was detained under the Internal Security Act in 2001, and released the same year.

His departure to Sungai Buloh prison was met with bloggers shouting “Makkal Sathi”, “Reformasi” and “Suara Petra, Suara Malaysia”.

Raja Petra’s website issued a call for donation of RM1 per person to his legal aid fund. At 6.45pm, RM24,500 had been credited to his CIMB bank account, and the fund had collected an additional US$3,283.61 through a Paypal account. It has been closed since.

Meanwhile, Syed Akbar was charged in a Kuala Lumpur sessions court with publishing seditious remarks in the comment section of an article in the Malaysia Today website.

He allegedly committed the offence in the premises of Zeenath Begum Jewellers Sdn Bhd, No. 2007, Jalan Masjid India, here at 2.59pm on June 5, 2007.

The comment with the heading “It is easy to impress the Malays” was made on an article titled “Malaysia’s Organised Crime Syndicate: All Roads Lead to Putrajaya” published by blogger Raja Petra Raja Kamarudin who maintains the website.

The 48-year-old father of two was charged under the same section.

Syed Akbar, a former banker who now runs a business with his wife on Jalan Masjid India, was represented by counsel Ashok Kandiah, Haris Ibrahim and Malik Imtiaz Sarwar, Bernama reported.

Deputy Public Prosecutor Ishak Yusof, assisted by Hanafiah Zakaria, recommended to the court for him to be allowed bail of RM5,000 but Ashok pleaded for a lower amount.

Judge S. M. Komathy Suppiah set bail at RM3,000 with one surety and fixed June 10 to hear submissions by both parties on a preliminary objection raised by the defence who claimed that the charge was groundless at the start of the proceedings.

Syed Akhbar’s wife posted the bail.

 

*********************

However, it is believed half way through the case the charge was dropped. Then was during Attorney General Tan Sri Abdul Gani Patail’s time.

That is why by conduct and practice, Syed would take his posting off the air a few hours after publishing it for fear of being nabbed again.

ALL his blog postings are laced with lies, slanders, defamation, obnoxious and even seditious words, which would land him in trouble if the authority is quick enough to capture the details of his postings and whip up a proper charge.

Again, this cyber-anarchist is foiled.

*Updated 200pm

Published in: on July 28, 2017 at 10:00  Leave a Comment  

Market Driven Vs Cronyism

The global economy confidence on Prime Minister Dato’ Sri Mohd. Najib Tun Razak’s leadership and administration is reflective on the bullish growth of the economy, capital market and amount of trade, weathering out of the global economic recession of 1995-6.

The Malay Mail Online story based on Bernama report:

Tuesday July 25, 2017
12:43 PM GMT+8

Datuk Seri Najib Razak delivers his speech during an Invest Malaysia 2017 event at Shangri-La Hotel in Kuala Lumpur, July 25, 2017. ― Picture by Yusof Mat IsaDatuk Seri Najib Razak delivers his speech during an Invest Malaysia 2017 event at Shangri-La Hotel in Kuala Lumpur, July 25, 2017. ― Picture by Yusof Mat IsaKUALA LUMPUR, JULY 25 — The Malaysian capital market increased nine per cent to RM3.1 trillion in the first six months of this year and is now ranked fifth in Asia, relative to the gross domestic product (GDP), Prime Minster Datuk Seri Najib Tun Razak said.

He said Malaysia is also home to the largest number of listed companies in Asean and at US$29 billion (RM billion), Bursa Malaysia also recorded the highest in funds raised in the last five years among the 10-member regional body.

“All this can point to only one conclusion, namely, our economy continues to prosper and we are stronger than ever as a result of the reforms and programmes the government has put in place,” he said in his keynote address at Invest Malaysia 2017 here today.

He said as the business community and companies like strength and stability, they want the certainty provided by a government that understands the prosperity of its people, is best served by being business-friendly and that sovereignty is not compromised by foreign direct investments.

“The business community wants the certainty of knowing the government is committed to the necessary reforms and to fostering a culture of entrepreneurship, transparency, accountability, and good regulations,” he added.

He said among the major investments pledged by foreign companies in Malaysia include China’s Huawei, which is making the country its global operations headquarters, data hosting and global training centre, at a project cost of RM2.2 billion, while employing more than 2,370 people.

He also said another significant investment is Saudi Aramco which is investing US$7 billion – the company’s biggest downstream investment outside Saudi Arabia — for a 50 per cent stake in the Petronas Refinery and Petrochemical Integrated Development in Johor.

“That is the single largest investment in Malaysia, and shows the confidence Saudi Arabia has in our people, our technology, and ability to be a strong partner with their most important business,” he added.

Apart from that, Najib said London-based HSBC is investing over RM1 billion to build its future regional headquarters at the Tun Razak Exchange, recognising Malaysia’s increasing status as an international financial and business centre.

Another company, Broadcom Ltd, one of the world’s largest semi-conductor entities with a market capitalisation of nearly half a trillion dollars, is transferring its global distribution hub that will manage the group’s global inventory of RM64 billion annually to Malaysia from Singapore this year.

“Others who are already here are expanding their operations. Finisar Corporation, a global technology leader in optical communications, will invest a further RM610 million in its operations in Perak, bringing its total investment in Malaysia to RM1 billion,” he said.

Najib also criticised those opposing the Goods and Services Tax (GST) and said the government would always be straight with the people and do what is right for them.

“We will always put their interests first, from economic welfare to security. Even if it is not the most popular thing to do, we will not hesitate, because it is the responsible thing to do for the country,” he added.

He said this is a reason what he is not very popular with a certain person, under whose leadership, many corners were cut, and the people had to pay a very high price, so that a few of his friends benefited.

“This was even when symbols of national pride had horrendous and catastrophic decisions hoisted on them.

“But, under this government, we are cracking down on crony capitalism. No more sweetheart deals. No more national follies to keep stroking the ego of one man. No more treating national companies as though they are personal property,” he said. — Bernama

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This is also coupled with the bullish economic outlook by a global financial authority. The International Montetary Fund (IMF) also revises the Malaysia’s 2017 economic growth forecast from 4.5 to 4.8%.

The Malaysian Reserve story:

IMF revises Malaysia GDP forecast upwards to 4.8%

By DASHVEENJIT KAUR

The International Monetary Fund (IMF) has revised its 2017 growth forecast for Malaysia upwards to 4.8%, driven by favourable economic data and monetary policy.

IMF economic counsellor and director of research Maurice Obstfeld said favourable economic data and a very steady hand in monetary policy for Malaysia were among the main reasons for the upgrade.

Previously, in its April 2017 World Economic Outlook (WEO), IMF forecast gross domestic product (GDP) growth for Malaysia in 2017 to hit 4.5%.

“Steady-handed monetary policy and successful efforts to increase the sustainability of debt levels, which have been trending downward, are among the reasons.

“Based on our upgrade, we also expect upside risks,” he told reporters in Kuala Lumpur yesterday during the release of the fund’s updated WEO.

For the first-quarter (1Q) of this year, Malaysia’s economy recorded a robust growth of 5.6% in 2017 against 4.1% registered in the same quarter of 2016.

The climb was boosted by strong domestic demand and private expenditure.

Domestic demand increased to 7.7% supported by continued expansion in private sector expenditure, which grew by 8.2% and the turnaround in public sector expenditure.

Private consumption rose 6.6%, while investments grew sharply by 12.9% following continued capital spending in the services and manufacturing sectors.

Bank Negara Malaysia (BNM) governor Datuk Seri Muhammad Ibrahim said during the 1Q GDP performance growth announcement in May that the result was the best since the corresponding quarter of 2015, which saw GDP at 5.8%.

BNM announced it was keeping its full-year growth forecast at 4.3%-4.8%, as it is expecting growth to be sustained from the 1Q this year.

The ringgit has also recovered from being among the weakest emerging Asian currencies in 2016, following measures by the central bank to reduce volatility in the ringgit and domestic foreign-exchange market.

Obstfeld said IMF was optimistic that Malaysia would continue to perform well with the appropriate measures put into place.

On the global front, the fund kept its growth forecasts for the world economy unchanged for this year and next, although it revised growth expectations for the eurozone and China upwards.

On global growth, IMF noted GDP would grow 3.5% in 2017 and 3.6% in 2018 — unchanged from estimates issued in April.

While risks around the global growth forecast appear broadly balanced in the near term, they remain skewed to the downside over the medium term, IMF said in its updated forecast.

IMF shaved its forecasts for US growth to 2.1% for 2017 and 2018, slightly down from projections of 2.3% and 2.5% respectively just three months ago.

The fund reversed previous assumptions that President Donald Trump administration’s planned stimulus measures would boost US growth, largely because no details of those plans have been made public.

Obstfeld said the global economy had been the subject of considerable protectionist rhetoric, such as Trump’s proposed tariff on steel imported from China, but such talk had yet to translate into much action.

“What will happen in the future, we don’t know. These threats are in our downside thinking and they’re not built into our forecast because hopefully they don’t happen, but there are risks,” Obstfeld said.

IMF said growth in the eurozone was expected to be slightly stronger in 2018 and pointed to “solid momentum”.

It upgraded 2017 GDP growth projections for the eurozone to 1.9%, up 0.2 percentage points from April.

IMF said eurozone growth would be slightly stronger at 1.7%, a 0.1 percentage point change from three months ago.

It said the expected higher growth in the eurozone indicated “stronger momentum in domestic demand than previously expected”.

IMF revised down its 2017 forecast for the UK by 0.3 percentage points to 1.7%, citing a slump in economic performance since last year’s vote to
quit the European Union.

It left its 2018 forecast unchanged at 1.5%, adding that it expected slightly higher growth in Japan this year of 1.3% — revised from a forecast of 1.2% in April.

It noted stronger 1Q growth would be buoyed by private consumption, investment and exports. Its forecast for Japan’s 2018 growth was unchanged at 0.6%.

IMF expected stronger growth of 6.7% in 2017 for China, up a 0.1 percentage point from the April forecast.

It said China’s growth would still moderate in 2018 to 6.4%, but noted the estimate was up 0.2 percentage points from the April forecast on expectations that Beijing would maintain high levels of public investment.

*****************

These bullish results and outlooks is demonstration of the confidence for the Malaysian economy and fundamentals, amidst a stream of two years of rabid and venomous political demonisation by Fourth Prime Minister Tun Dr. Mahathir Mohamad about Malaysia becoming a “Failed State”.

Channel News Asia story:

Mahathir confident of support for campaign to oust Malaysia PM Najib

 

 

 

Former Malaysian prime minister Dr Mahathir Mohamad says he is confident that the Save Malaysia movement can collect 1 million signatures before the end of the year.

 

SHAH ALAM: Former Malaysian prime minister Dr Mahathir Mohamad is confident that the “Save Malaysia” movement will have enough support to pressure the country’s traditional rulers to act against Prime Minister Najib Razak.

ADVERTISING

Speaking at Save Malaysia’s first people’s congress held behind closed doors on Sunday (Mar 27), Dr Mahathir said he is confident that the movement will collect 1 million signatures before the end of the year.

The 90-year-old statesman has been leading the campaign to oust the prime minister, saying it is in order save the country from becoming a failed state. Dr Mahathir earlier this month cobbled together an unlikely alliance of former political foes including former government and opposition leaders, as well as civil rights activists to form the movement.

While the consensus was to remove Mr Najib, whom they blame for the country’s institutional breakdown, there were also heightened calls for the release of jailed opposition leader Anwar Ibrahim.

Former bar council president Ambiga Sreenevasan stressed that it was high time for a reset in the country’s political system and urged government leaders and civil servants to come on board.

“If you turn your back on us, you may save yourself but if you stand with us, you can help save the nation for your children and grandchildren. I invite all, particularly those in power, to join us and be on the right side of history,” she told the congress, which attracted about 2,000 participants.

But few government leaders have spoken up so far, and those who dare to face expulsion from their party.

Dr Mahathir quit UMNO last month after he failed to gather enough support from within the ruling party to oust party president Najib. He is now urging the people to sign the Save Malaysia petition in order to step up pressure on Mr Najib.

Said Dr Mahathir: “People are afraid to sign because this government frightens people. They arrest the people but they cannot take action against 1 million people, can they?”

The Save Malaysia movement has collected more than 140,000 signatures since its launch on Mar 4.

Source: CNA/xq

Read more at http://www.channelnewsasia.com/news/asiapacific/mahathir-confident-of-support-for-campaign-to-oust-malaysia-pm-n-8123836

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All have been been proven wrong. Nothing Dr. Mahathir said or prophecises materialised. In fact, it turn out the opposite.

Prime Minister Najib had a plan to transform the Malaysian economy, government and society and stuck with his plan, which is both strategic and comprehensive.

Hence, he had the right to lambast against his former master for the wrongs he did against the Sixth Malaysian Prime Minister, who is legally elected by Malaysians through a democratic process.

The Malay Mail Online story:

Before international investors, Najib denounces Dr M’s legacy

BY SYED JAYMAL ZAHIID

Datuk Seri Najib Razak delivers his speech during the Invest Malaysia 2017 event at Shangri-La Hotel in Kuala Lumpur, July 25, 2017. ― Picture by Yusof Mat IsaDatuk Seri Najib Razak delivers his speech during the Invest Malaysia 2017 event at Shangri-La Hotel in Kuala Lumpur, July 25, 2017. ― Picture by Yusof Mat Isa

 

KUALA LUMPUR, July 25 ― Speaking before the international business community here today, Datuk Seri Najib Razak denounced the legacy of his predecessor Tun Dr Mahathir Mohamad as being rife with cronyism and corruption.

Najib rarely uses international business platforms to criticise his political foes but today the Umno president said it was necessary to appeal to investors to avoid placing faith in an Opposition bloc led by a man with a track record for “cutting corners” and rolling out policies that only benefited his close allies.

“This government..will always be straight with the people and we will always do the right by the people,” Najib said in his keynote address at Invest Malaysia 2017, a private event for investors.

“We will always put their interests first, from economic welfare to security even if it’s not the most popular thing to do..this is also one of the reasons I am not very popular with that certain nonagenarian.

“Under his leadership many corners were cut, and the Malaysian people had to pay a very high price so that a few of his friends benefitted,” the prime minister added.

Najib has increasingly targeted Dr Mahathir since the latter began a campaign to remove him, which included resigning from Umno, forming an Opposition party, and becoming chairman of the Pakatan Harapan pact.

Continuing with his salvo against the former PM, Najib said today his government was undoing much of the damage caused by Dr Mahathir’s policies, such as by “cracking down on crony capitalism”.

Dr Mahathir had a preference for trickle-down economics that favoured select businessmen and companies, but which ended up concentrating wealth in a handful of elites.

“No more sweetheart deals. No more national follies kept going to stroke the ego of one man,” the BN chairman said.

Najib also warned of a campaign to discourage the business community from supporting his government through what he described as deliberate “misinformation” by the Opposition.

The BN chairman accused the Opposition of starting a drive to sabotage the economy through smear tactics that are often reported by pro-opposition press.

“There has in fact been a concerted campaign to send such misinformation overseas to damage Malaysia’s economy for their own selfish political objectives.

“So if you receive these smears, or you read it in publications that do not check facts properly, please beware”.

The prime minister previously asserted that political rivals were aiming to undermine the economic success of his government in order to generate political support.

But Najib said they have been unsuccessful as Malaysia’s economy continued to grow robustly and draw in investments.

He noted Malaysia’s GDP has grown at an average of 4 per cent annually since he took office in 2009. This year alone trade increased to 24 per cent or RM430 billion compared to the same period last year.

Najib said the data proved investors remain confident in his government.

****************

Prime Minister Najib did prove his ways of taking the Malaysian economy and trade forward forward at the same time uplift the quality of life of Malaysians, is market driven compared to Dr. Mahathir’s administration, which was filled with cronyism to meet his objectives.

He also beefed up Khazanah Nasional Bhd.’s role, which is one of the strong organisations that perked and propped the nation’s engine of growth on top ensuring the corporatised essential services are delivered for the consumers’ benefit.

The Edge Market story:

Khazanah companies to be Malaysia’s ‘engines of growth’ – Azman Mokhtar

A+A

KUALA LUMPUR (Sept 26): Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar said the Malaysian Government investment arm’s companies would continue to be the nation’s “engines of growth” as policy makers planned Budget 2017.

Azman said the Government had to be fiscally responsible as the nation pursued economic growth in an uncertain global environment. He was speaking to reporters on the sidelines of the Khazanah Megatrends Forum 2016 here today.

“We expect the continuation of pro-growth, pro-society developmental goals, but at the same time the Government must be fiscally responsible.

“Our various companies in various sectors will continue in contributing as engines of growth. We need to keep the growth engine running,” he said.

Khazanah is a major shareholder in public-listed companies like Axiata Group Bhd and Telekom Malaysia Bhd where Khazanah owns 37.77% and 28.65% stakes respectively, Bloomberg data shows.

In property developer UEM Sunrise Bhd, Khazanah owns a controlling a 66.06% stake.

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Detailed in in the 13th Khazanah Annual Review 2017:

THIRTEENTH KHAZANAH ANNUAL REVIEW (KAR 2017)

13 January 2017

Khazanah posts stronger profits and resilient performance in 2016

Profit Before Tax rises 32%, resilient and long-term value creation intact

Highlights:

  • Amidst a volatile year for equity and currency markets, Khazanah posts stronger Profit Before Tax (Unaudited) in 2016, an increase of 32% to RM1.56 billion from RM1.18 billion in 2015
  • In line with weakness in most benchmark equity markets and currencies, the portfolio Net Worth Adjusted (“NWA”) declined slightly, posting an unrealized decline of 6.4% to RM101.9 billion as at 31 December 2016 (2015: RM108.9 billion). Nonetheless, the long-run value creation trend remains strong with NWA up by 3.1x or a CAGR of 9.3% p.a., for the period May 2004 to 31 December 2016, with a high-quality portfolio with an Asset Cover of 2.9x
  • Continued strong focus on long-term value creation across financial, economic, strategic and societal value creation
  • Highlights for 2016 include the 10th Anniversary of Iskandar Malaysia and continued focus on catalytic domestic investments; the launch of Khazanah’s fifth overseas office in London and continued gradual internationalization in Khazanah’s portfolio, especially in innovation & technology; and continuous improvements at core Khazanah-linked companies as domestic and regional champions.
  • More than RM150 million spent on CR activities in 2016, principally through Yayasan Hasanah, and support of the SL1M training programme, with the cumulative spend and allocation of more than RM3.9 billion over the period 2006-2016
  • More than RM10.6 billion of dividends and taxes paid and payable to the Government over the period 2004-2016

Khazanah Nasional Berhad (“Khazanah”) today presented its 13th Khazanah Annual Review (“KAR 2017”), demonstrating resilience and sustained long-term progress across its financial, strategic and value distribution performance.

Tan Sri Azman Hj. Mokhtar, Managing Director of Khazanah said: “Khazanah recorded both a profitable and resilient performance in 2016, amidst the challenging and volatile global economic environment that affected all core benchmark markets and currencies. In spite of general weakness in global market conditions and in equity and currency markets in emerging economies especially, the underlying strength and quality of our portfolio ensured that long-term value creation remained intact. Profitability, as represented by Profit Before Tax, while relatively modest in absolute terms, was stronger by 32% in 2016 from the previous year. Just as importantly, many risk management and prudential measures have been put in place over the years, resulting in a strong and resilient portfolio which allows us to ride short- and even medium-term volatility, and continue focusing on long-term value creation, as we have done over the last decade and more.”

1. Financial Performance

a. Long-term value creation
Khazanah recorded a 32% increase in unaudited Profit Before Tax (“PBT”) of RM1.56 billion (2015: RM1.18 billion), with cumulative PBT since May 2004 amounting to RM25.08 billion. Khazanah also declared dividends of RM650 million for 2016, with total dividends declared since May 2004 amounting to RM9.11 billion. Taxes paid for 2016 amounted to RM123 million, with taxes paid since 2004 totaling RM1.55 billion.

Portfolio Realisable Asset Value (“RAV”) stood at RM145.1 billion as at 31 December 2016, decreasing RM5.1 billion or 3.4% from RM150.2 billion as at 31 December 2015. Net Worth Adjusted (“NWA”) stood at RM101.9 billion as at 31 December 2016, decreasing RM7.0 billion or 6.4% from RM108.9 billion as at 31 December 2015.

Despite the challenging year, the overall uptrend in Khazanah’s portfolio since May 2004 remained intact. Over the period May 2004 to 31 December 2016, RAV increased RM94.2 billion to RM145.1 billion or 2.8 times as at 31 December 2016 (May 2004: RM50.9 billion), while NWA increased RM68.6 billion to RM101.9 billion or 3.1 times over the same period (May 2004: RM33.3 billion). This translated into a RAV Compounded Annual Growth Rate (“CAGR”) of 8.6% per annum (“p.a.”) and NWA CAGR of 9.3% p.a.. Meanwhile, the RAV cover (assets/liabilities) remained strong at 2.9x. This key prudential ratio provides a position of relative strength for Khazanah to move forward into a year which is expected to see continued volatility and uncertainty.

b. High-quality portfolio assets
The resilience was boosted by the positive performance of several key investee companies. In terms of year-on-year NWA movement, portfolio gains were contributed by Tenaga Nasional Berhad (+RM1.5 billion), CIMB Group Holdings Berhad (+RM600 million), UEM Group Berhad (+RM400 million), and Alibaba Group Holding Ltd (+RM300 million), while portfolio decreases were due to the telecommunications sector (-RM5.8 billion), aviation sector (-RM900 million) and IHH Healthcare Berhad (-RM800 million). In terms of RAV segmentation by sector in 2016, media & communications (17.8%), healthcare (16.2%), power (15.7%), financial services (15.3%) and property (11.0%) sectors were the five largest portfolio components.

In 2016, Khazanah made investments totaling RM6.9 billion, including 17 new investments, and 13 divestments providing proceeds amounting to RM4.7 billion, with gains on divestments totaling RM2.6 billion. From 2004 to 2016, Khazanah has made a total of 161 investments worth RM81.6 billion and 90 divestments providing proceeds amounting RM52.8 billion, with overall gains on divestments totaling RM24.9 billion.

2.  Strategic and Operational Performance

Despite the challenging operating environment, the year saw the sustained execution of Khazanah’s strategic mandate to catalyse growth, create and distribute value. This includes supporting domestic growth, driving further internationalisation, including among investee companies, and maintaining a strong focus on innovation and technology.

a. Catalysing domestic growth
On the domestic front, there was continued development in Iskandar Malaysia, which celebrated its 10th anniversary last year. There was further progress of catalytic investments in the leisure & tourism, education, wellness, property development, Business Process Outsourcing (“BPO”), and creative industries, among others. Overall, Iskandar Malaysia has secured RM218.8 billion in cumulative committed investments from 2006 to September 2016. Khazanah investee companies continued to be involved in key domestic projects, including the launch of KLIA Aeropolis by Malaysia Airports Holding Berhad (“MAHB”), and Telekom Malaysia Berhad’s (“TM”) Broadband Improvement Plan. In the area of Islamic Finance, Khazanah provided further support for Malaysia as a centre for Islamic Finance, with the issuance of a USD750 million straight Sukuk, and a USD399 million Sukuk exchangeable into Beijing Enterprises Water Group Limited shares.

b. Harnessing technology and innovation
Khazanah further rolled out its internationalisation strategy, with the official opening of Khazanah Europe Investment Ltd’s (“KEIL”) office in London by the Prime Minister of Malaysia in May 2016. The KEIL office extends Khazanah’s international presence, which also includes Beijing, Mumbai, Istanbul, and San Francisco.  In tandem, Khazanah made further investments in innovation and technology across several geographies, including the United States, United Kingdom, India, China and Singapore. The continued strong focus on innovation and technology is funded primarily by recycling returns from the earlier investment in Alibaba Group Holding Ltd. It underscores Khazanah’s mandate as a strategic investment fund that creates long-term value for the nation via multiple sources, including harnessing creative disruption and innovation by playing the role of what some have referred to as a “Sovereign Venture Fund”.

c. Furthering regionalisation among investee companies
Khazanah investee companies also expanded their international presence, including:

  • IHH Healthcare Berhad’s (“IHH”) acquisition of Tokuda Group and City Clinic Group in Bulgaria; development of a new hospital in Myanmar; partnership with Taikang Insurance Group Inc in China; and joint-venture by IHH subsidiary Parkway Pantai to build a hospital in China.
  • Completion of Tenaga Nasional Berhad’s (“TNB”) acquisition of 30% stake in GAMA Enerji in Turkey and 30% stake in GMR Energy Ltd in India
  • Completion of Axiata’s acquisition of Ncell Private Limited in Nepal, and merger of Robi Axiata Limited and Airtel Bangladesh Ltd in Bangladesh
  • CIMB Group Holdings Berhad (“CIMB”) strategic partnership with China Galaxy Securities Co. Ltd. in China, and the award of a banking licence to CIMB Bank (Vietnam) Limited in Vietnam
  • UEM Edgenta Bhd’s acquisition of Asia Integrated Facility Solutions Pte Ltd in Singapore
  • Themed Attractions Resorts & Hotels Sdn Bhd’s launch of Kidzania Singapore

Overall, Malaysia remained the largest component of Khazanah’s portfolio in 2016, accounting for approximately 54.9% of RAV by geographic exposure, while overseas investments accounted for the remainder.

d. Malaysia Airlines recovery on track
Meanwhile, there was also steady and continued progress in the rollout of the five-year 12-point MAS Recovery Plan, which after 28 months of implementation, or approximately half-way through, is on track and on schedule. Key milestones in 2016 include the appointment of Peter Bellew to helm Malaysia Airlines Berhad (“MAB”), formation of the Malaysia Aviation Group, and the establishment of the Malaysian Aviation Commission.

3. Value Distribution and Nation-Building Initiatives

a. Delivering societal returns
Khazanah continued to deliver societal returns via corporate responsibility (“CR”) efforts led by Yayasan Hasanah (“YH”), a Khazanah foundation provided with a RM3 billion endowment which focuses on five core areas: Education; Community Development; Environment; Arts, Heritage and Culture; and Knowledge. Overall, Khazanah and YH have collectively spent more than RM900 million on CR initiatives since 2006, including RM89 million on the Khazanah-Skim Latihan 1 Malaysia programme since 2015.

b. Developing human capital and promoting social inclusion
In the education sector, 21 Trust Schools were rolled out in 2016 under the Yayasan AMIR (“YA”) Trust School Programme, bringing the total to 83 schools in 10 states to-date. YA is a not-for-profit foundation incorporated by Khazanah to improve accessibility of quality education in schools through a Public-Private Partnership with the Ministry of Education. Meanwhile, Yayasan Khazanah (“YK”) introduced two new scholarships, Rhodes Scholarship, in Partnership with Yayasan Khazanahand Chevening-Khazanah Scholarship, last year. Yayasan Khazanah awarded 114 scholarships in 2016 under its various scholarship programmes, and has awarded a total of 649 scholarships since 2006. In addition, a total of 5,160 graduates have been trained under the Khazanah-SL1M programme since 2015.

Other social inclusion initiatives rolled out in 2016 include urban rejuvenation projects in Johor Bahru, Kuala Lumpur, Butterworth and George Town by Think City Sdn Bhd, a wholly-owned subsidiary of Khazanah. In addition, the development and promotion of public spaces continued, including the launch of the Taman Tugu Project, an urban rainforest park in the heart of Kuala Lumpur that is being developed through a public-private-civil society partnership. Meanwhile, Khazanah has committed RM71 million for social development initiatives in Iskandar Malaysia, in the areas of affordable housing, capacity building, entrepreneurship development and livability enhancement.

c. Continuing contribution to national transformation
As part of the mandate to create sustainable value for a globally competitive Malaysia, Khazanah continued to provide further support for government policy formation through various platforms in 2016, including the Bumiputera Empowerment Agenda (“BEA”), Unit Peneraju Agenda Bumiputera (“TERAJU”), Special Economic Committee, Performance Management and Delivery Unit (“PEMANDU”), Malaysian Global Innovation and Creativity Centre (“MaGiC”), Talent Corporation Malaysia Berhad (“TalentCorp”), and Global Science and Innovation Advisory Council.

d. Facilitating public policymaking & knowledge development
Meanwhile, Khazanah continued to provide support for government policy formation and deepen linkages across global knowledge networks. Key milestones in 2016 were Khazanah Research Institute’s (“KRI”) publication of “State of Households II”, which examines the latest available data on the state of Malaysian households, and “Climbing the Ladder: Socio-economic Mobility in Malaysia”, a study of inter-generational social mobility in Malaysia, including educational and occupational mobility. In addition, the Khazanah Megatrends Forum 2016, the twelfth in the annual series, was also held with the theme “Geography As Destiny?”, which focused on the political economy of location, environment and demographics. The 12th Khazanah Global Lecture[1] featured Dr. Jane Goodall, the world-renowned ethologist, conservationist and United Nations Messenger of Peace, who delivered a lecture on “Caring for the Earth: Reasons for Hope”.

4. Outlook for 2017
The volatile, uncertain, complex and ambiguous global business and market environment is expected to continue in 2017. Khazanah will continue to drive long-term value creation, further develop a high-quality and resilient portfolio, ensure holistic value creation in financial, economic and societal terms, as well as strengthen institutional integrity and governance.

END

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All these manifest towards bullish Malaysian economy, increased global trade, higher per capita income, better quality of life.

It is very much Prime Minister Najib’s agenda for the ‘Bigger Picture’, to take Malaysia and Malaysians to a better spot from where it has become, amidst the nation moving towards its sixtieth Merdeka in five weeks time.

Published in: on July 25, 2017 at 13:00  Comments (2)  

It is in the numbers, ad volarem 

There is no better way to tell a story but based on facts. Like, presenting it with numbers and the right interpretation.

An quick example is that many people are trying very hard and adamantly to highlight that Barisan Nasional (BN) votes obtained in the last GE did not warrant the mandate of forming the Government by the people.

Taking into argument is that BN only obtained 47.4% of votes casted.

However, the Constitutional Monarchy democratic system practiced here in the Westminster styled ‘First-Past-The-Post’, where number of MPs shall be the determining factor for His Majesty Seri Paduka Yang DiPertuan Agong to invite the party with most MPs in the Dewan Rakyat to form the Government.

GE results

BN’s best performance in GE was in 11GE, where the coalition of 13 parties controlled over 90% of Dewan Rakyat seats. Even that, BN only obtained slightly less than 65% of votes casted.

The last Parliament saw despite obtaining a little over 47% votes casted BN got 60% of the seats of Dewan Rakyat, which is 54 seats majority over the combined Opposition MPs.

BN lost 3% votes casted in the 13GE which only translated to 7 seats lesser in the Dewan Rakyat compared to the previous GE on 8 March 2008, dubbed ‘Political Tsunami’.

Of course the upcoming 14GE would be a very interesting to watch, considering since a year ago when BN and Prime Minister Dato’ Sri Mohd. Najib Tun Razak were at their lowest ebb, BN won handsomely in the Sarawak State Elections and Sungei Besar and Kuala Kangsar twin by-elections.

Many are still bent that BN won because the opposition votes split between PAS and PAN.

However, grieving widow and housewife Datin Mastura Yazid obtained 2,032 votes more than the aggregated votes of all her opponents. The previous BN MP Allahyarham Dato’ Ir Wan Khairil Anwar got 1,082 votes majority in 13GE.

YB Budiman Zohri’s 2,289 votes majority over the aggregated opposition votes is much improved compared to Deputy Minister Allahyarham Dato’ Noriah Kasnon’s 399 votes majority at 13GE.

This is not withstanding the fact that former BN Chairman and UMNO President for over 22 years Tun Dr. Mahathir Mohamad actively campaigned for both PAN candidates, despite the fasting month challenges.

Datin Mastura, then a widow in grief, never left her home during the entire campaign. She won purely on the effectiveness BN machinery.

So, a year has past and the political landscape somewhat changed more favourable towards BN and PM Najib’s advantage, with its own merits and many politically challenging issues such as 1MDB is no longer as prickly as what it was exactly a year ago.

The demerits on the Opposition side is also glaring. The ‘rebellion’ within DAP where 2MPs and 4 ADUNs quit, the break away between PAS and PKR, PKR’s internal fighting and teething problem which somewhat quickly developing worse for the new-kid-on-the-block PPBM.

DAP strategist Kluang MP Liew Chin Tong in his ‘Black Swan’ outlined these backbiting issues for the Opposition:

There are certainly challenges for the Opposition to overcome in order to precipitate change.

First, while there are serious discontents among the Malays, the Opposition must stand for something inspiring and visionary, and not depends solely on the anger against Najib as forward strategy. The Opposition must stand for more than just removing Najib. The economy and the well-being of the people should be the number one priority.

Second, the coming together of Bersatu and the Pakatan Harapan parties, namely Parti KeADILan Rakyat, Parti Amanah Negara, and Democratic Action Party, is a reconciliation of unlikely former foes. Who would imagine Dr. Mahathir and Anwar Ibrahim forming an alliance nearly 20 years after their very bitter fallout in 1998. But the coming together of the once political father-and-son can unleash huge energy if handled properly. After all, both Mahathir and Anwar are positive leadership figures compared to Najib, and they each appeal to some segments of the Malay electorate.

Third, to present a common agenda for Mahathir’s audience and DAP’s supporters is another challenge. If Mahathir and Bersatu go on a racial campaign, it will depress the support of non-Malay voters, which in turn creates a lose-lose situation for the entire Pakatan Harapan coalition. Likewise, the regime’s attack on Mahathir and Bersatu is that they are associated with the DAP. The presence of DAP can also depress the support for Bersatu and other Malay-based parties like PKR and Amanah if the Opposition is unable to break out of UMNO’s racial playbook, and articulate new narratives that can bridge all groups in a larger vision.

Fourth, PAS as UMNO’s “new friend”, as Zahid Hamidi calls them, is a reality, and the sooner a clear line is drawn between the genuine/official Opposition, Pakatan Harapan, and the pseudo “third force” of PAS, the better it is to condition the voters to vote along the line of those “for Najib”, and those “against Najib”.

Fifth, the ultimate challenge for the newly re-aligned Pakatan Harapan that included Bersatu, is that Najib could just exit the scene and take out the raison d’être of the Opposition and the anger in the community.

If this is to happen, can the Opposition survive this unlikely but not impossible Black Swan?

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Taking all that and other factors into consideration, the matrix would translate into a projection which is mathematically possible to do so.

That is not withstanding PM Najib’s administration in keeping up the boost of the ‘Feel Good Factor’, in the run up and continuous implementation of the SEA Games, 60th Merdeka celebrations and Special SEA Games.

It is on top on the many trade deals recently clinched with the super active Prime Minister Najib visits to China, India, Germany and reciprocity of King of Saudi and Bahrain and Crown Princes of Qatar and Japan.

Malaysian economic transformation plan (ETP) growth

The Malaysian economy has seen growth and sharper incline, since Prime Minister Najib launched his economic transformation plan and the various strategy, to drive the nation towards a high GNI nation in the impelementation and ad valorem of the Vision 2020.

The strategic economic agenda for the Malays and Indians, which are part of his economic transformation plan to bring Malaysians to the high income status, is a strategic boost.

In the final analysis, is in the numbers and directionally, it is plausible to plot a bullish projection.

Published in: on May 13, 2017 at 12:30  Comments (2)  

All ahead, full

The progressive economic growth since Prime Minister Najib’s ETP (Graphic by The Malaysian Insight)

Prime Minister Dato’ Sri Mohd. Najib Tun Razak is commanding the vessel ‘Federation of Malaysia’ steaming in full and moving forward, now that the political storm base on fallacies caused by Opposition are being unravelled one by one and nothing should any longer be in obstacle.

NST GEIC Dato’ Jalil Hamid’s column:

Datuk Seri Najib Razak and Datuk Seri Mohamad Hasan

AN ambitious economic zone will be launched this week that planners say will transform the lives of millions of people, especially in Negri Sembilan.

Called “Malaysia Vision Valley” (MVV) and dubbed a “world-class metropolis”, the sprawling zone will be a magnet for local and foreign investors in high-tech industries, and the medical and healthcare, education and tourism sectors.

Prime Minister Datuk Seri Najib Razak will chair the first steering committee of the MVV at his office on May 4.

He will also witness the signing of the head of agreement comprising three entities which are jointly spearheading the ambitious corridor.

The three parties are Sime Darby Bhd, which will take a 50 per cent stake in the venture, followed by Kumpulan Wang Persaraan (KWAP) and Malaysian property firm Brunsfield International Group, which hold 25 per cent each.

They will jointly own MVV Holdings Sdn Bhd, the master planner and project promoter. The chairman of the firm has yet to be named.

The state government of Negri Sembilan will not hold a stake in MVV Holdings but will invest in some of the flagship projects to be developed within the corridor.

The main pull for potential investors will be the proximity to ports and airports, excellent rail and highway links, and the fact that MVV is located near the huge population in Greater Kuala Lumpur.

Greater KL is home to more than a quarter of Malaysia’s 28.3 million people and generates over 40 per cent of the country’s annual gross domestic product.

Najib, in his 2016 Budget speech, had announced that the government will pump in an initial investment of RM5 billion into the MVV project last year.

By 2045, the project is expected to generate over RM417.6 billion in investments.

It is also expected to witness greater traction given the recent signing of the Kuala Lumpur-Singapore High Speed Rail deal, which will have one station within the project.

Negri Sembilan Menteri Besar Datuk Seri Mohamad Hasan told this writer that Labu would be the site of the HSR stop. The station could be built underground, maximising land use.

One highly-placed source said MVV might propose to the government to make the station an international one to cater to air travellers from nearby Kuala Lumpur International Airport. Seremban is currently slated as one of the domestic stations.

There are also plans to revive the Seremban-Port Dickson rail link.

Covering 152,971ha from Nilai to Seremban and Port Dickson, the massive project is a public-private partnership development, with Sime Darby owning around 40 per cent of the land earmarked for MVV.

Phase one will cover 11,129ha. By the way, Sime Darby is one of the biggest landowners in Negri Sembilan, given its oil palm plantations.

Back in 2009, Sime Darby unveiled the master plan for the project, which was previously dubbed Sime Darby Vision Valley.

Originally, it had an estimated gross development value of between RM25 billion and RM30 billion.

To be developed in more than 20 years, the project originally covered more than 32,000ha, spanning Selangor and Negri Sembilan.

The area has been earmarked by the government for development under the National Physical Plan, which sets forth a long-term strategic framework for national spatial planning, including measures needed to shape the direction of land use, development and biodiversity conservation in Peninsular Malaysia.

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And the story about Malaysia Vision Valley launched by Prime Minister Najib, the new economic corridor for Central Semenanjung:

The Malaysia Vision Valley (MVV) development has the capacity to attract more than RM290 billion in investment, besides creating 1.38 million job opportunities. (Pix by MOHD FADLI HAMZAH)

KUALA LUMPUR: The Malaysia Vision Valley (MVV) development has the capacity to attract more than RM290 billion in investment, besides creating 1.38 million job opportunities.

Prime Minister Datuk Seri Najib Razak announced this after witnessing an MoU signing involving Sime Darby Property Bhd, Brunsfield Development Sdn Bhd and Kumpulan Wang Persaraan at his office in Putrajaya, today.

“MVV is a planned, smart and inclusive development to ensure all segments of society reap the benefits of this development.”

“Although MVV aspires to be developed as a modern metropolis, the needs of the public at all levels will be taken into account,” he said.

Najib said the 153,000 hectare development, among others, focuses on providing affordable homes with well-planned and orderly urban facilities.

“MVV will provide more than 1,000 acres (400ha) of affordable housing. Apart from that, MVV will also provide more than 1,000 acres (400ha) of public facilities and recreational areas with green spaces,” he added.

Najib said the project is spearheaded by the private sector and supported by the Federal government as well as the Negri Sembilan state government.

“The government has in principle approved allocations for the development on a number of public infrastructure projects in the MVV areas within the 11th Malaysia Plan.”

“In the first rolling plan of the 11th Malaysia Plan, RM560 million has been allocated for the development of road connections in the MVV area. Other projects being considered include highway networks and integrated rail services to connect the MVV to surrounding areas as well KLIA2,” he added.

Also present at the event was Menteri Besar Datuk Seri Mohamad Hasan.

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The bullishness of the Malaysian economy the past twelve years, substantiated by growth in the capital financial and debt markets and commerce, is the evidence of sound economic management and plan.

Naturally, a stable Federal Government is the enabler for the economic growth and drive.

It is reflective in Prime Minister Najib’s Economic Transformation Plan launched in 2010 where Malaysia would be brought to a high income nation. Within four years, the GNI per capita had risen by 35% and the expansion is substantive.

The growth of public-private investment (Graphic by PEMANDU)

The fact is that, the objective is progressively closer despite global economic crisis 2014-5, which the nation is not spared. The steady angle of growth of public-private investment year-on-year is evidently clear the confidence of the commercial and financial sector.

The central bank is bullish but prudent in their projection of the Malaysian economy.

The Star story:

Friday, 24 March 2017

Malaysian economic growth to be better this year than last

Improving economy: Muhammad at the briefing of Bank Negara’s reports. – SAM THAM/The Star

Improving economy: Muhammad at the briefing of Bank Negara’s reports. – SAM THAM/The Star

PETALING JAYA: The Malaysian economy is expected to see some recovery, with growth set to pick up this year.

According to Bank Negara estimates, the economy this year should grow at a range of between 4.3% and 4.8%. Last year, the economy grew 4.2%.

Bank Negara governor Datuk Muhammad Ibrahim said that the main challenges for this year would be inflationary pressure, geopolitical concerns and monetary policy shifts.

“Although growth is expected to improve from higher global economic activities, the Malaysian economy will be challenged by higher inflation, volatile capital flows and lingering uncertainties in the global economic and financial environment,” he told reporters at his maiden presentation of Bank Negara’s annual report and the financial stability and payment systems report.

Aside from the gradual improvement in global growth, he said domestic demand would continue to be the main driver of the economy, supported by Government spending and the recovery in global commodity prices.

Domestic demand would continue to contribute about 4.4% of the total growth for this year. Among the components of domestic demand, private consumption will remain the biggest contributor and is expected to sustain at 5.6% despite inflation creeping up.

The central bank expects inflation to rise between 3% and 4%, compared to 2.1% last year. Muhammad said the higher inflation was primarily due to the higher cost that would come about due to the pass-through effect of higher crude oil prices.

“However, the cost-driven inflation is not expected to cause significant spillover effects into broader price trends,” he said, while noting that higher living costs and weak consumer sentiment could still be a dampener on domestic demand.

“We expect inflation to be higher than 4% in some months, but it will cool off in the second half of the year.”

On the macro level, Bank Negara expects the current account surplus to narrow to between 1% and 2% of gross national income (GNI) this year, compared to 2.1% last year. In 2014, the current account surplus was 4.5% of the GNI.

Muhammad said the central bank was confident that the current account would remain in surplus, although the growth in imports continues to outpace the growth in exports.

“However, it would depend on how we continue to diversify the economy and sources of growth in the coming years,” he said.

The governor also said there was a need to have a long-term policy on labour, as migrant workers sent back some RM30bil every year and it was growing.

“Although foreign direct investments are declining, the most important is the quality of the investment. It must create value for Malaysians, especially the type of jobs created. We can’t afford to have labour-intensive industries because we don’t have cheap labour in Malaysia,” Muhammad said.

A bright spark in 2016 was the reduction in the household debt-to-gross domestic product (GDP) ratio, which was down to 88.4% compared to 89.1% in 2015.

This would be the first time since 2010 that the household debt-to-GDP ratio has come down.

The bulk of the household debt is attributed to loans tied to property and cars.

On this score, Muhammad brushed off perceptions of a lack of end-financing for houses by banks. “The main issue is house prices remaining unaffordable relative to household income. It is not that access to financing is the issue,” he said, adding that less than 30% of new launches were in the affordable segment.

He warned that some deterioration in loan performance for some businesses and households would be expected for this year.

“Rising debt beyond the prudent level will add financial strain to households. We are now seeing impairment rising higher, although from low levels.”

Read more at http://www.thestar.com.my/business/business-news/2017/03/24/growth-to-pick-up/#k9C2KHgXqITbiXug.99

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It is intersting to note that the economy is expected to record growth on productivity and not just the price of oil is at the neighbourhood of USD50 per barrel. The demand growth is also expected to increase and this is important for the domestic economy.

The fact is that, the Malaysian economy is set to be slightly bullish and signs of that is reflective in the strengthening of Ringgit against US Dollar.

Prime Minister Dato’ Sri Mohd. Najib Tun Razak receiving King Salman Al Saud of Saudi Arabia for the latter’s official visit to Malaysia (NST photo)

Prime Minister Najib is forging better ties with global leaders and new trade opportunities are being opened for Malaysian firms.

Recently, the visit of Saudi and Bahraini Kings and Japanese Crown Prince and Prime Minister Najib’s visit to India and China fostered many investment deals, on top of global geo political matters.

The Straits Times story:

Najib’s visit to India bags number of deals

Mr Najib Razak was hosted by Mr Narendra Modi at an official welcome at Rashtrapati Bhavan Presidential Palace. This is his third visit to India since he took office in 2009. His busy schedule in the six-day visit includes holding talks with business leaders and officiating at a ceremony for a new complex of the Malaysian High Commission 

One proposal is building $2.8b urea, ammonia plant in Malaysia

NEW DELHI • Indian Prime Minister Narendra Modi held talks last night with his Malaysian counterpart, Datuk Seri Najib Razak, who is on a six-day official visit to India.

“Honouring a shared heritage. PM @narendramodi receives PM @NajibRazak at Hyderabad House,” Indian External Affairs Ministry spokesman Gopal Baglay tweeted.

The two leaders witnessed the signing of a number of agreements following delegation-level talks between the two sides.

The proposed development of a US$2 billion (S$2.8 billion) urea and ammonia manufacturing plant in Malaysia was the biggest deal on the table. The facility, with a capacity to produce 2.5 million tonnes a year, would be dedicated to supplying the Indian market.

Another deal was between a Malaysian company and Andhra Pradesh Economic Development Board for the setting up of a technology park in the southern state.

Both countries also signed a bilateral air services agreement which would enhance connectivity.

A memorandum of understanding was inked between the Association of Indian Universities, New Delhi, and the Malaysian Qualifications Agency on mutual recognition of educational qualifications.

The move is meant to encourage students to study in each other’s country in all courses.

A joint statement issued after the meeting between Mr Najib and Mr Modi disclosed that both sides had agreed to explore a possibility of enhancing cooperation in the financial sector. This could include participating in each other’s capital market and the granting of commercial banking licences.

Mr Najib, accompanied by his wife and several Cabinet ministers, was accorded an official welcome at Rashtrapati Bhavan Presidential Palace earlier yesterday.

In brief remarks to the media, the Malaysian leader, with Mr Modi at his side, said he was confident that his visit would enhance their bilateral relationship “to a higher level”.

Mr Najib later paid a courtesy call on Indian President Pranab Mukherjee and Vice-President Mohammad Hamid Ansari.

The trip, at the invitation of Mr Modi, is Mr Najib’s third to India since he assumed office in 2009.

He had arrived in the southern city of Chennai last Thursday where he attended an official reception hosted by the Acting Governor of Tamil Nadu, Mr Vidhyasagar Rao.

Mr Najib will also be holding dialogues with leaders and captains of industry from major business sectors.

He is scheduled to travel to Jaipur today to attend a high-level discussion on the progress of Malaysian companies in infrastructure projects in the state of Rajasthan.

He is also expected to attend a business luncheon and the 7th Global Science and Innovation advisory council meeting in the Indian capital tomorrow.

He is due to officiate at a ceremony for a new complex of the Malaysian High Commission on Tuesday.

India is currently Malaysia’s tenth-largest trading partner, seventh-largest export destination and 12th-largest source of imports.

It is also Malaysia’s 20th largest investor, with total investments worth US$2.31 billion.

BERNAMA

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So was when he visited Germany nine months ago and earned remarkable grounds.

Malaysiakini story based on Bernama report:

Najib’s visit to Germany a major boost for bilateral ties, trade

 M Saraswathi, Bernama     Published 29 Sep 2016, 10:58 am     Updated 29 Sep 2016, 12:19 pm

Prime Minister Najib Abdul Razak’s official visit to Germany is a major boost for bilateral ties, trade and investment climate between Malaysia and Germany, which has a population of about 80.6 million and is the world’s fourth largest economy.

The visit gave both existing and potential German investors in Malaysia the opportunity to voice out their opinions, challenges and suggestions directly to the country’s premier.

“They (businesses) were very pleased to be given the opportunity to engage directly with the head of the government. It demonstrates our commitment to further encouraging their businesses in Malaysia,” said Malaysian Investment Development Authority (Mida) chief executive officer Azman Mahmud.

Germany is Malaysia’s largest investor from the EU. There are a total of 400 German companies in Malaysia. In the first six months of 2016, German companies invested a total of RM6.44 billion in Malaysia. Over the last 10 years, total investments have totalled RM35 billion.

The businesses were very happy with the remarks and assurances given by the prime minister on providing the right business environment for them, he told Bernama on the sidelines of the prime minister’s three-day official visit which took off with a one-hour closed door dialogue session with top businesses.

This is Najib’s first visit as the country’s prime minister since taking office in 2009. His visit was on the invitation of German Chancellor Angela Merkel.

Both leaders had a bilateral meeting on Tuesday.

Companies participating in the dialogue included Atotech, AWS Schafer, BMW, Daimler, Osram, Volkswagen, Infineon, Bombardier Transportation, Ensinger, B Braun, Green Sugar and Biesterfeld International.

Besides the dialogue session, the prime minister also had bilateral meetings with XFab chief executive officer Rudi De Winter, Muhlbauer president Josef Muhlbauer, BMW Group (Munich) senior vice president (Asia Pacific & South Africa) Hendrik von Kuenheim, and Aerodata AG director strategic business development Dr Manfred Haverland.

Najib, who is also finance minister, said about RM1.5 billion in potential future investment was revealed by companies he met during the dialogue session and bilateral meets, mainly in the semiconductor and machinery sector.

Their intention for new investment and re-investment demonstrates their confidence level in the country’s attractiveness and stability, he said.

Azman said besides investment-related issues, businesses involved in the automotive sector were also keen to know about the country’s National Automotive Policy.

“They wanted to know the future direction of it and the adoption of Euro 5 and energy efficient vehicles,” he said.

Najib said the government would continue its efforts in making Malaysia the most attractive investment destination in South-East Asia and constantly encouraging existing investors to re-invest in the country.

Keen to draw mid-sized manufacturers

During his meeting with the business community, he also announced that besides the multinational companies, Malaysia is now keen to also attract the country’s mid-sized manufacturers.

Accounting for a substantial number of companies and known collectively as “Mittelstand”, they are the backbone of the economy, supplementing the bigger well-established industrial and manufacturing giants.

Najib believes that Malaysia’s small and medium enterprises can learn much from German mid-sized companies especially in terms of their entrepreneurial spirit, their competitive strategies and their adaptation and innovation in advanced technology.

On the last leg of the three-day visit, Najib went to a port city in the state of Mecklenburg-Vorpommern, which is about 200km from the capital, Berlin.

Mecklenburg-Vorpommern is the sixth largest German state by area and the most thinly populated state.

He also went to Wismar, where Genting Hong Kong Ltd is managing three shipyards it acquired in Mecklenburg-Vorpommern last year for RM1.04 billion.Genting has since renamed the shipyards as MV Werften and will focus on building large new cruise ships.

He said the venture in Mecklenburg-Vorpommern through the acquisition of the shipyards paves the way for more investments by Malaysian companies in the state.

In further fostering Malaysia-Germany relations, the prime minister expressed Malaysia’s strongest interest in hosting the 16th Asia Pacific Conference of German Business in Kuala Lumpur in 2018.

“We hope it will materialise,” he added.

– Bernama

Read more: https://www.malaysiakini.com/news/357284#ixzz4gC2LBgQJ

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Prime Minister Najib’s upcoming working visit to China is the follow through.

It is really ashamed if his desire and drive to expand and improve the economy, gross national income and income per capita is being hindered by very unproductive over politicking.

More over, if Prime Minister Najib has to pander to Oppositions’ strategy of demonisation compelete with manipulation, fabrication, deception and slander to maintain or gain new political grounds.

Otherwise they are unable to unseat him and the Barisan Nasional administration.

For the record, when Prime Minister Najib inherited the reigns of the nation from Fifth Prime Minister Tun Abdullah Ahmad Badawi in April 2009, it was not in calm waters and sunshine.

The world was still in the shock of the subprime financial fiasco which almost brought the United States banking system to its knees. Globally, it affected the free market.

By the time Prime Minister Najib got to grasps of things and issues, he started to plan and unleash his ways of making the change. He saw the opportunities await the nation and her people, its potential and most of all, the challenges and limiting factors.

Prime Minister Najib had big plans to optimise all resources available for realise the potentials to the max and he and his administration planned strategies and unleashed various transformation programs designed for multipronged attacks and objectives.

These transformation programs simultaneously being implemented bit by bit saw progress and positive results. However, during the days of making hay in the sun, suddenly unforeseeable storm appeared on our coast.

2015-16 saw Prime Minister Najib at the helms weathering one of the global worst economic woes in more recent times when the price of crude oil fell nearly USD80 per barrel in a very short span of time.

This is coupled with major currencies saw significant drop against US Dollar, including China Renmimbi, Japanese Yes, Euro and British Pound Sterling, which had contagion effect on world trade, investments and the elastic financial and capital markets volatility.

This was also the most challenging period in Prime Minister Najib political career when he was at arms against being toppled by Fourth Prime Minister Tun Dr. Mahathir Mohamad, who teamed up with the Oppositions and Neo Con Jewsih control foreign media lashing out incessant manipulated, fabricated, deceived and slanderous voracious attacks.

Now that both political and global economic storms have subsided,  the vector that Prime Minister Najib has set on is forward an up, as in the words of an infamous seaman Captain Edward Smith 105 years ago in his order to steam full ahead, “Time to stretch her legs”.

In the final analysis, for average Malaysians it is better of for Prime Minister Najib to be given more opportunity to work harder and space. It is nothing but to expand and extend what he had planned, under planning and/or being implemented, for the betterment of the nation.

Published in: on May 5, 2017 at 15:00  Leave a Comment